KUALA LUMPUR (Nov 2): Boustead Holdings Bhd, which is controlled by the Armed Forces Fund Board (LTAT), is setting up an academy to develop future leaders and strengthen its workforce as it seeks to expand its presence in Malaysia’s defence industry.
The academy will be established through a partnership with Indonesia-based PT MarkPlus (MCorp), which provides corporate education, market research and consulting services across Asia, Boustead said in a statement Monday.
Dubbed Boustead Academy, the initiative will focus on developing leadership capabilities and building a performance-driven culture to support the group’s transformation and ambitions in the defence sector, in line with the Defence Industry Policy of Malaysia (DIPN), according to the group’s statement.
Boustead chairman General Tan Sri Abdul Aziz Haji Zainal (Rtd) said the partnership was anchored in the group’s aspiration to “Make Boustead Great Again”, with an emphasis on revitalising its corporate culture and unlocking employees’ potential.
He said the transformation required more than a change in business direction, but also a shift in leadership mindset and the ability to execute the group’s strategic priorities.
“By investing in our people today, we are laying the foundation for Boustead’s future readiness and long-term sustainability,” he said.
The initiative is expected to support the group’s efforts to meet the government’s defence requirements, develop local expertise and strengthen the domestic defence industry ecosystem.
Boustead has faced significant financial and operational challenges, particularly in its defence business, amid the troubled RM11.2 billion littoral combat ship (LCS) project.
The difficulties formed part of the backdrop to LTAT’s move to take the group private in 2023.
The government also provided a RM2 billion loan guarantee and RM300 million in financial assistance to help LTAT meet its financial obligations.
Copyright © 1999-2026 The Edge Communications Sdn. Bhd. 199301012242 (266980-X). All rights reserved
About the Author
