UEM Edgenta has made the announcement through its bourse filing that Opus International (M) Berhad (OIMB), a sub-subsidiary of UEM Edgenta, had on 10 March 2022, entered into a Shareholders Agreement with PCSB and Opus Consultants Sdn Bhd ( Opus Consultants Sarawak JV Company) to jointly provide project management services and engineering design consultancy services, relating to the engineering and construction projects via the JV Company.
In its statement, UEM Edgenta said the JV Company, Opus Consultants Sarawak is currently a wholly-owned subsidiary of Opus International. The principal activities of OIMB are the management of the planning, design and construction of infrastructure projects and provision of facilities management services.
Whilst PCSB is a wholly-owned subsidiary of Sarawak Economic Development Corporation (SEDC). The principal activities of PCSB are project management consultancy and investment holding.
On the salient point on eventual issued and paid-up share capital of the JV company, the statement said the JV Company will allot and issue 175,000 new ordinary shares at RM1.00 each for cash subscription upon the execution of the SHA. The eventual issued and paid-up share capital of the JV Company shall be RM250,000 divided into 250,000 ordinary shares, which shall be apportioned between OIMB (49%) and PCSB (51%).
