Boustead Holdings

Boustead Holdings Berhad (MYX: 2771) is a Malaysian corporation. Founded in 1828 as Boustead & Co in Singapore (shortly after Sir Stamford Raffles established the British Settlement in 1819)[1] by Edward Boustead, an English businessman, presently it is an affiliate of the Malaysian military.

Boustead Holdings Berhad
TypePublic limited company
MYX: 2771
SGX: F9D
ISINMYL2771OO003
PredecessorBoustead & Co
Founded1828
Headquarters28th Floor, Menara Boustead, 69, Jalan Raja Chulan, 50200 Kuala Lumpur, Malaysia
Key people
Group Managing Director - Dato' Sri Mohammed Shazalli Ramly
Number of employees
18,000+ (2017)
ParentArmed Forces Fund Board
SubsidiariesList of subsidiaries
Websitewww.boustead.com.my

The present form of the company was incorporated in 1961, and is currently listed on the Kuala Lumpur stock exchanges.

Background

After World War II, Malaya declared independence from the British (1957) and Singapore declared independence from Malaysia (1965). This saw Boustead & Co split into four entities in 1975: Boustead Plc in London (which was later reorganized as Boustead & Co), Boustead Holdings Berhad in Malaysia, Boustead Singapore Limited, and Boustead China Co, Ltd.

By 2008, Boustead had 133 subsidiaries, of which 3 companies are listed and 16 associate companies, of which one is listed. It has total assets in excess of RM8 billion and more than 18,000 employees.

The major shareholder of Boustead today is Lembaga Tabung Angkatan Tentera (LTAT) - the Malaysian military pension fund. Boustead Holdings has businesses in plantation, heavy industries, Property development, banking and pharmaceutical sectors.

Subsidiaries

Its major subsidiaries include Affin Bank,[2] Pharmaniaga,[3] and BH Petrol.

Its subsidiary Pharmaniaga was appointed as the distributor of Sinovac CoronaVac vaccine for the Malaysian market during the Coronavirus pandemic.

Boustead also operates The Curve mall in Damansara, Selangor, and MyTown Shopping Centre at Jalan Cochrane, Maluri, Kuala Lumpur. Both malls are connected to an IKEA store.


See also

References
  1. "History of Boustead". Boustead. Retrieved 2022-03-30.
  2. "Trading, Finance & Investment". Retrieved 3 January 2022.
  3. "Pharmaceutical Division". Retrieved 3 January 2022.


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