Boustead unveils 3-year transformation plan

PETALING JAYA: Boustead Holdings Bhd has unveiled its three-year transformation plan as part of its commitment to strengthen prospects and unlock value.

The plan is premised on three pillars of evolve, efficiency and excellence which will transform the group into a high-performing and sustainable organisation, via initiatives that focus on funding, structural, operational and corporate governance areas.

Boustead chairman Datuk Seri Mohamed Khaled Nordin revealed that it has already embarked on the first phase of the transformation plan which is aimed at restructuring Boustead and its subsidiaries in order to optimise value that will enable it remain resilient in the challenges ahead.

“Thus far, we have already seen progress in enhancing board governance and expertise, with a refreshed board at the helm,” he said in a statement today.

Mohamed Khaled also pointed out that it has established a group transformation office to drive transformation efforts across the organisation and provide strategic input to its business units.

“With these plans in place to strengthen our fundamentals and a definitive blueprint to propel the group over the next three years, we are confident that we will be able to weather through this challenging time and emerge as a stronger and more resilient organisation,” said the chairman.

He said Boustead is dedicated to upholding the trust of its shareholders and the plan is part of its long-term commitment to create value that will enable it to provide consistent and more sustainable returns, particularly it majority shareholder the armed forces fund and subsequently positively impact the retired members of the armed forces who benefit from its dividends.