Boustead Holdings

Boustead Holdings Berhad (BHB) (myx: 2771) is a Malaysian corporation with over 16,000 employees across more than 90 listed and non-listed companies in Malaysia, Indonesia and the United Kingdom. It is an affiliate of the Malaysian military.

BHB was founded in 1828 as Boustead & Co in Singapore by Edward Boustead, an English businessman. The company was incorporated in 1961, and is currently listed on the Kuala Lumpur stock exchanges.

History
In 1975, Boustead & Co split into four entities: Boustead Plc in London (which was later reorganized as Boustead & Co), Boustead Holdings Berhad (BHB) in Malaysia, Boustead Singapore Limited, and Boustead China Co, Ltd.

The major shareholder of BHB is Malaysian military pension fund, Lembaga Tabung Angkatan Tentera (LTAT).

Organisation
The Group’s business interests are focused in key sectors of the Malaysian economy via its five Divisions:

Property & Industrial
The division engages primarily in property development and investment, hotel management (under the Royale Chulan hotel chain), project management as well as manufacture and distribution of cellulose fibre cement products.

Pharmaceutical
The division is the largest listed pharmaceutical group in Malaysia and involved in various segments of the pharmaceutical value chain, from research and development to the manufacturing of generic drugs, over-the-counter medicines and nutraceuticals, logistics and distribution, regulatory, sales and marketing as well as retail pharmacy.

Heavy Industries
The Division (Boustead Heavy Industries Corporation) caters to the defence security, marine and aerospace sectors, providing a range of services to Government and commercial clients including shipbuilding, ship repair, maintenance, repair and overhaul (MRO), manufacturing of components and systems, maritime training and integrated logistics support, among others.

Trading, Finance & Investment
Under this division, Boustead is involved in diverse sectors within the Malaysian economy with core businesses include a home-grown retail petroleum network, the provision of financial products as well as travel and tourism related services.

Subsidiaries
Its major subsidiaries include Affin Bank, Pharmaniaga, and BH Petrol.

Its subsidiary Pharmaniaga was appointed as the distributor of Sinovac COVID-19 vaccine for the Malaysian market during the COVID-19 pandemic.

Boustead also operates The Curve mall in Damansara, Selangor. The mall is connected to an IKEA store.