Given the Boustead Group’s track record and its recent acquisition drive, it comes as little surprise that it is one of Malaysia’s most diversified conglomerates.
“The economic depression of 2008–2009 had widespread impact on the global economy and we, too, felt the ripples of this financial crisis. However, banking on our diversity with multiple streams of businesses, we have weathered this uncertain period and emerged as a stronger participant in the Malaysian economy. In fact, we recorded a profit in excess of RM668 million and revenue of RM7 billion in 2008. The revenue earned during 2009 was RM5 billion and profit in excess of RM400 million. Additionally, the quarter-on-quarter results for the first 3 quarters of 2010 also showed significant improvement,” notes Tan Sri Dato’ Lodin Wok Kamaruddin, Deputy Chairman/Group MD, Boustead Group.
Founded in Singapore in 1828, Boustead & Co. was listed on the Kuala Lumpur Exchange in 1961. The Group assumed its present name Boustead Holdings Berhad in 1966. With its business branched out into various sectors and activities—plantation, heavy industries, property, finance and investment, trading and manufacturing and services—the company has its presence firmly established in the domestic market as well as in Taiwan, Korea, Indonesia and Ghana.