Uzma and Malaysia Marine Heavy to work together to service O&G industry

KUALA LUMPUR: Uzma Bhd has partnered with Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) to explore potential collaborations, develop innovative solutions and provide comprehensive services in the oil and gas (O&G) industry.

In its filing with Bursa Malaysia today, Uzma said its subsidiary, Uzma Engineering Sdn Bhd (UESB) today entered into a memorandum of understanding (MoU) with Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), a subsidiary of MHB for the projects.

It said the projects it would collaborate on, include floater conversion / modification as well as renewable energy solutions.

Both parties will also jointly prepare and submit competitive technical and commercial proposals for any potential, selected and agreed projects.

"The potential scope of work of Uzma, MMHE and all other parties involved shall be defined in a collaboration agreement, pre-bid agreement or any definitive agreement during the preparation, submission and negotiation of the proposal," it said.

The duration of the MoU will be for one year effective from July 3, 2023 until July 2, 2024.

Uzma's share price was up 0.81 per cent to close at 62.5 sen at midday, while MHB was up 1.96 per cent to close at 52 sen. Ends

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