Vizione Holdings Berhad joint ventures with Permata Rebana Sdn. Bhd. to collaborate with the Main Contractor in participating in an awarded project to design, deliver and construct a Medical Lab at Bandar Enstek, Seremban, Negeri Sembilan
The group is targeting to procure sub-contract work amounting to RM130 million from the main contractor for the job. The project was awarded to PRSB by Kementerian Kesihatan Malaysia which is principally engaged as a building and civil engineering contractor.
Managing Director of Vizione, Dato’ Ng Aun Hooi commented, “With the combined strength and experience of our JV partner and Vizione, we are confident in delivering top-quality work in the construction of the medical lab in Negeri Sembilan.”
Separately, another wholly-owned subsidiary of the Group entered into a Joint Venture Agreement with GPP Gasification Sdn. Bhd. and PRSB to incorporate a joint venture company to share resources and expertise to undertake the production and sale of biomethane or biogas from palm oil mill effluent as a concession owner.
Through the joint ventures, Vizione is also looking to further its venture into the renewable energy space, especially following the Memorandum of Cooperation signed with Malaysian Green Technology and Climate Change Corporation to explore RE opportunities including a biogas project. The biogas project will be undertaken on a Built-Own-Operate-Transfer basis. The initial phase of the biogas project is expected to involve 12 palm oil mills at an estimated investment cost of between RM500 million to RM550 million.
Under the agreement, the group will hold 45% ownership whereas PRSB and GGSB will own the balance 35% and 20% respectively.
“In summary, we are thrilled to begin 2022 with new partners onboard. There are plenty of compelling synergies between the parties, and thus we are confident that both joint ventures will yield positive outcomes. As Malaysia enters into the endemic phase of COVID-19, the Group is also anticipating increased job flows from both the private and public sectors. Beyond that, our focus this year will be on executing and delivering our strong order book, which would subsequently translate to better financial performance,” Dato’ Ng concluded.
