Summary
- Boustead launches B200 heritage initiative in Penang.
- Group strengthens focus on defence, property and commercial sectors.
- Royal Chulan Hotels plans local and overseas expansion.
- Boustead targets RM30 billion annual revenue by 2030.
GEORGE TOWN, August 6 — Boustead Holdings Berhad has officially launched the B200 initiative in Penang, marking the start of a two-year journey towards the group’s 200th anniversary in 2028.
Chairman Tan Sri Abdul Aziz Zainalsaid the initiative reflects Boustead’s renewed commitment to nation-building, sustainable growth and supporting Malaysia’s defence ecosystem.
While honouring nearly two centuries of corporate heritage. Group Managing Director Dato’ Indera Ir. Dr. Ahmad Sabirin Arshad said Boustead will strengthen its strategic focus.
On defence, property development and commercial services, targeting annual revenue growth from RM12 billion to RM30 billion by 2030.
The group also plans to enhance local defence capabilities, through technology transfer, strategic partnerships and increasing local industry participation to 30% under key national defence projects.
Meanwhile, Royal Chulan Hotels & Resorts announced plans to expand its hotel management portfolio beyond its existing network by managing additional properties across Malaysia.
While exploring opportunities in overseas markets, including China and Madinah, as part of Boustead’s long-term growth strategy.
