Boustead LCS audit: RM890m potentially lost due to mismanagement

An estimated RM890 million may have been lost in the early stages of the littoral combat ship (LCS) project, according to a forensic audit.

The audit report, ordered by Boustead Heavy Industries Corporation (BHIC), said the potential losses stemmed from six cases.

BHIC is the parent company of Boustead Naval Shipyards (BNS), the main contractor of the LCS project.

The audit was restricted to...