KUALA LUMPUR (Apr 2): Boustead Heavy Industries Corp Bhd (BHIC), the shipbuilding arm of Boustead Holdings Bhd, is eyeing further shipbuilding jobs in the military and commercial segments to boost business this year.

The company is building six littoral combat ships (LCS) for the Royal Malaysian Navy, while its commercial division is expecting to deliver a multi-functional 17-meter tugboat this month.

BHIC executive deputy chairman and managing director Tan Sri Ahmad Ramli Mohd Nor said the company is well positioned for growth as it explores new opportunities to chart its progress in a sustainable manner.

"We faced a tough year, but managed to deliver results owing to enhanced productivity, coupled with sound improvements in capabilities and processes," he told reporters after its annual general meeting today.

"Progress made from finalising the RM9 billion contract for the six LCS strengthened earnings for our associate Boustead Naval Shipyard Sdn Bhd, which also contributed to the group's earnings," he said.

BHIC (fundamental: 0.45; valuation: 1.8) shares were trading at RM2.19 today, with 2,500 shares changing hands, bringing a market capitalisation of RM544.12 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)