In September 2003, Tun Dr Mahathir Mohammad, the former Prime Minister and Dato’ Sri Mohd Najib, the Defence Minister made an official trip to Sweden. PSC took the opportunity for Tun Dr Mahathir and YB Dato’ Sri Najib to have a meeting with Mr Magnus Ingesson, previous President of BAE Systems Bofors AB, aimed at getting BAE Systems Bofors AB commitment to form up a JV Company in Malaysia. This effort was also to develop the defence industry in Malaysia.
Subsequently, various discussions were held to finalize an agreement. On 14th April 2004, the Shareholders Agreement between BHIC Defence Technologies Sdn Bhd and BAE Systems Bofors Holdings Sdn Bhd was signed and executed.
BHIC Bofors Asia Sdn Bhd was incorporated on 28th May 2004 and was operational since 1st October 2004, with corporate office in Kuala Lumpur and operations office in Lumut Naval Base, Perak and Kota Kinabalu Industrial Park, Sabah.
BHIC Bofors Asia Sdn Bhd is ISO 9001 certified since 2nd December 2007.