Monday, March 1

Dayang signs MoU with two firms

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KUCHING: Dayang Enterprise Holdings Bhd’s (Dayang) wholly-owned subsidiary Dayang Enterprise Sdn Bhd (DESB) entered into a memorandum of understanding (MoU) with two firms to undergo projects in Melaka.

In a filing on Bursa Malaysia, Dayang announced that DESB entered an MoU with PKNM Energy Sdn Bhd and Main Velocity Sdn Bhd.

The MoU aims establish a cooperation and collaboration in exploring, securing and operating any projects in Melaka relating to oil and gas, energy, engineering and civil works, construction and development.

It said, the MoU is to record the mutual understanding and current intent of the parties with respect to explore a working relationship and cooperation for the related projects and to set out the principal terms of arrangement between the parties under which the parties will further negotiate with each other and execute a more detailed and definitive relevant agreement thereafter.

“The MoU shall come into force on the date of signing the MoU and shall remain in force for a period of six months or until the relevant Agreement is executed, whichever is earlier,” it said.

PKNME is a fully owned subsidiary of Perbadanan Kemajuan Negeri Melaka, a leading development state agency in Melaka particularly in industrial, property and entrepreneurs and intends to involve in the business of oil and gas, asset management, engineering and energy.

MVSB is involved in pipeline installation, inspection, pre-commissioning, construction, maintenance in petrochemical industrial, fabrication, bolt and leak testing, vessels supply manpower supply as well as offshore catering services.