Boustead unveils three-year group-wide transformation plan

Boustead unveils three-year group-wide transformation plan
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KUALA LUMPUR (July 17): Boustead Holdings Bhd has unveiled its transformation plan to drive the group forward for the next three years as part of its strategy to strengthen prospects and unlock value.

In a statement today, the conglomerate said that premised upon the three pillars of Evolve, Efficiency and Excellence, this will set a course for the transformation of the group into a high-performing and sustainable organisation.

Termed EDGƎ 20, the plan comprises 20 transformation initiatives to achieve the group’s aspirations, focused on funding, structural, operational and corporate governance areas, it said.

Boustead chairman Datuk Seri Mohamed Khaled Nordin said the first phase of the transformation plan is aimed at restructuring Boustead and its subsidiaries in order to optimise value.

“This will enable us to remain resilient in the face of challenges ahead.

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

“We have also established a Group Transformation Office to drive the transformation efforts across the group, as well as to provide strategic inputs for our business units,” he said.

Mohamed Khaled said with these plans in place, a definitive blueprint to propel the group over the next three years, the group was confident it will be able to weather through this challenging time and emerge as a stronger and more resilient organisation.

“We are dedicated to upholding the trust of our shareholders and this is part of our long-term commitment to create greater value.

"This will enable us to provide consistent and more sustainable returns to our shareholders, particularly our majority shareholder Lembaga Tabung Angkatan Tentera, which will subsequently positively impact the retired members of the Armed Forces who benefit from our dividends,” he said.

At midday break today, Boustead fell 4.64% or 2.5 sen to 53.5 sen, valuing it at RM1.08 billion.