Urusharta Jamaah Sdn Bhd (UJSB) a subsidiary of TH Heavy Engineering Bhd (THHE) has partnered with MTD Capital Bhd (MTD) to secure an infrastructure project in Penisular Malaysia’s northern region.
On December 7, 2021, the two parties signed a memorandum of understanding (MoU) to explore collaboration opportunities in the civil engineering and construction industry, both locally and globally.
The MoU stipulates that THHE and MTD will look into ways to collaborate and maximise opportunities in the local civil engineering and construction industry.
Both companies will collaborate on several projects announced by the federal government as part of the 12th Malaysia Plan, with an initial order book of RM1 billion expected in the coming years.
Members of the executive committee, Ahmad Yusof Mohamad and Mohd Khalid Mohamed, signed the MoU for THHE. MTD was represented by its chief executive officer, Imran Gulcharan Abdullah, and the construction division head, Ahmad Tarmizi Ismail.
At the same time, Hizamuddin Jamalluddin, the chief executive officer of UJSB and a board member of THHE, and Datuk Nik Fauzi Nik Hussein, the group executive chairman of MTD, were also present to witness the signings.
THHE’s foray into civil engineering and construction, according to Ahmad Yusof, is part of a long-term strategy to diversify its revenue stream.
“Through this collaboration, THHE will be able to present a more credible and long-term Regularisation Plan to its stakeholders,” he added.
The MoU, according to Nik Fauzi, is a significant step forward in MTD and THHE’s relationship.
“MTD is well suited to partner with THHE because of its proven track record in the construction and completion of various infrastructure and civil engineering projects.”
