The spokesperson notes that the management acknowledges that Boustead Holdings is one of LTAT’s biggest investments. The initiatives that we are executing have started to bear fruit, with Boustead Holdings returning to a full-year profit in FY2021. Some may argue, however, that the current share price may not be reflective of the deep value in Boustead Holdings. Several of Boustead Holdings’ key assets are publicly traded companies, including its 57.42% unit Boustead Plantations Bhd, 51.84%-owned Pharmaniaga Bhd, 65%-held shipbuilder Boustead Heavy Industries Corp Bhd (BHIC) and 20.85% stake in Affin Bank Bhd. In September 2019, there was talk of Boustead Holdings looking to sell its petrol station business.

Source: The Edge Markets July 11, 2022 23:55 UTC