PSC-Naval Dockyard

Penang Shipbuilding and Construction - Naval Dockyard Sdn Bhd (PCS-ND), was a division of the Penang Shipbuilding and Construction Industries Bhd (PCSI), a Malaysian Government-Linked Company (GLC), based in Lumut, Perak, Malaysia. The company's primary role is to maintain the Royal Malaysian Navy (RMN) fleet and the Lumut Naval Dockyard. However, a management and financial crisis in 2005 result the Malaysian Government to enforced the PSC-ND to be merged under Boustead Holding Bhd and renamed Boustead Naval Shipyard Sdn Bhd. The company has since been taken over by Boustead Heavy Industries Corporation Berhad.

PSC - Naval Dockyard was born out of the Royal Malaysian Navy’s dockyard facilities which was to provide ship repairs and maintenance services. Under the corporatisation program advocated by the Malaysian Government, the dockyard was corporatised as Limbungan TLDM, a wholly owned government company. It has modern facilities to meet the total maintenance requirements of the Royal Malaysian Navy fleet, from hull repairs to major overhauls and from radar refitting to weapon systems refurbishment.

The company was taken over by the public listed Penang Shipbuilding Corporation Berhad, a company in the stable of entrepreneur Amin Shah Omar Shah, now declared a bankrupt, and renamed PSC - Naval Dockyard Sdn Bhd to reflect the corporate relationship with Penang Shipbuilding Corporation.

In 2005, Public Accounts Committee (PAC) unveiled serious corruption in the PCS-ND and caused solemn concern from the public. Under pressure of the public, Malaysian government enforced a reorganize result the PCS-ND to be merged into Boustead Holding Bhd, and named under Boustead Naval Shipyard Sdn Bhd

PSC - Naval Dockyard Sdn Bhd was made the major contractor for the building and delivery of the New Generation Patrol Vessels (NGPV) for the Royal Malaysian Navy (RMN). An international invitation for bids was invited, from Germany, the United States, Australian and Britain amongst others submitting their bids. PSC-ND was set to join venture with the winner to complete the program.

The German Naval Group (GNG) with their proposed model, based on the Blohm + Voss MEKO 100 design, won the bid. A contract was signed on 13 October 1998 for an initial six units, with the GNG as the major sub-contractor. Member of the GNG, the Hamburg-based Blohm + Voss was to build the first two ships, while the PSC-ND was to complete the final fitting out and trials. The remaining ships were to be built at the PSC-Naval Dockyard from ship modules supplied by the GNG, with a gradual increase of local content.

...
Wikipedia