Thursday, April 7, 2011

Boustead plans RM1b capex to expand MHS Aviation, Pharmaniaga

KUALA LUMPUR: BOUSTEAD HOLDINGS BHD [] has allocated RM1 billion as capital expenditure for 2011, which would be used also to expand MHS Aviation Bhd and also PHARMANIAGA BHD [].

A company official said on Thursday, April 7 that Lembaga Tabung Angkatan Tentera (LTAT), which owns 59.28% of Boustead may trim its stake to improve the liquidity of the shares.

In March this year, Boustead signed an agreement to acquire a 51% stake in MHS Aviation, which is an air charter operator for RM100 million.

In June last year, Boustead acquired 86.81% of Phamarniaga, an integrated healthcare company, for RM534 million cash.

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