Boustead to establish academy with Indonesia’s MCorp
The academy will develop leadership skills and support the group’s transformation as it seeks a larger role in Malaysia’s defence industry.
Boustead Holdings Bhd is partnering with Indonesia-based PT MarkPlus (MCorp) to establish Boustead Academy, aimed at preparing future leaders and developing its workforce. The group said the initiative would support its plans to expand in Malaysia’s defence industry.
According to Boustead, the academy will emphasise leadership development and a corporate culture centred on performance. Its objectives are aligned with the Defence Industry Policy of Malaysia (DIPN) and the group’s transformation plans. MCorp’s services across Asia include consulting, corporate education and market research.
Boustead chairman General Tan Sri Abdul Aziz Haji Zainal (Rtd) said changing business direction alone would not be enough for the transformation. He said it also required a different leadership mindset and the capacity to carry out strategic priorities.
The group expects the academy to help it respond to government defence needs, build Malaysian expertise and support the country’s defence industry.
Boustead, controlled by the Armed Forces Fund Board (LTAT), has encountered financial and operational problems, notably involving the troubled littoral combat ship (LCS) project valued at RM11.2 billion. Those difficulties were among the circumstances surrounding LTAT’s privatisation of Boustead in 2023. The government also extended financial assistance of RM300 million and a loan guarantee of RM2 billion to help LTAT fulfil its financial obligations.
