Dayang teams up with PKNM, Main Velocity for Malacca projects

PETALING JAYA: Dayang Enterprise Holdings Bhd, which has seen a spike in its share price recently, is looking to collaborate with Malacca State Development Corp (PKNM) and Main Velocity Sdn Bhd to undertake various projects in Malacca.

In a filing with Bursa Malaysia, Dayang said that the parties wish to establish a cooperation and collaboration in exploring, securing and operating any projects in Malacca related to oil and gas, energy, engineering and civil works, construction and development.

Dayang’s wholly owned subsidiary Dayang Enterprise Sdn Bhd (DESB) entered into a memorandum of understanding (MoU) with PKNM’s subsidiary PKNM Energy Sdn Bhd and Main Velocity with the intention of exploring a working relationship and cooperation for the projects and to set out the principal terms of arrangement between the parties.

PKNM is the development state agency in Malacca for industrial, property and enterpreneurs. It intends to enter the business of oil and gas, asset management, engineering and energy while DESB is principally engaged in providing offshore, topside maintenance, engineering and construction services for the oil and gas industry.

Main Velocity 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.

Source : TheSunDaily