By Sim YH –
BANDAR SERI BEGAWAN, NOV 1 – In an effort to open a path of strategic cooperation within the Brunei Darussalam Maritime Cluster (BDMC), particularly involving integrated marine maintenance and decommissioning facilities, Qaswa Holdings Sdn Bhd (Qaswa) and Eastern Pacific Industrial Corporation Berhad (EPIC) have signed letter of intent (LoI) between the two companies at the signing ceremony which took place at the Theater Hall, Ministry of Finance and Economy, today.
Present to witness the signing was the Minister in the Prime Minister’s Department and the Second Minister of Finance and Economy, the Honorable Dato Seri Setia Dr Haji Mohd Amin Liew bin Abdullah who is also the Chairman of the Brunei Economic Development Board and the Chief Minister of Terengganu, His Excellency Dato’ Seri Ir Dr Ahmad Samsuri Mokhtar.
At the signing ceremony, Qaswa was represented by the Chairman, Haji Musa Adinin; Director, Awang Muhammad Luqman Hakeem Musa and General Manager, Awang Hafriz Fayadh, while EPIC was represented by Group Chief Executive Officer, Ts Haji Muhtar Suhaili and Group Chief Financial Officer, Wan Mohd Azilah Wan Abdullah.
Also present at the ceremony were the Chairman of the Terengganu Digital Economy, New Income, Trade, Industry and Green Technology Committee, Haji Mohd Nurkhuzaini Abdul Rahman; Terengganu State Economic Planning Unit Director, Dato’ Haji Tun Ahmad Faisal Tun Abdul Razak; The President and Chief Executive Officer of the Terengganu Inc Group, Haji Burhanuddin Hilmi Mohamed@Harun and EPIC Board Members, Datuk Haji Ahmad Amzad Hashim@Mohamed and Ir Ts Haji Khairil Nizam Khirudin.
Earlier Haji Musa in his speech said that Qaswa which was established in 2022 focused on investing in key infrastructure projects that are important to Brunei’s economic growth.
His mission, he explained, includes generating job opportunities and fostering spillover initiatives for local businesses.
Meanwhile, Ts Haji Muhtar Suhaili in his speech said the collaboration has the potential to open a new chapter for EPIC in expanding the company’s international footprint and collaboration.
His company is very excited to explore impactful ventures that not only align with business growth strategies but also contribute to economic development and maritime capabilities in Malaysia and Brunei Darussalam.
Meanwhile, Awang Hafriz Fayadh was quoted as saying that the signing of the LoI was an important achievement for Qaswa in realizing the potential of cooperation and investment with EPIC.
By leveraging his expertise and strong record of achievement, the strategic relationship is expected to provide great benefits to Qaswa and contribute to the economic empowerment of Brunei Darussalam.
The LoI laid the groundwork for the potential acquisition of Qaswa’s shareholding by EPIC Berhad and its involvement in the operation of the first marine maintenance yard and decommissioning yard in Brunei Darussalam.
It also underlined the commitment of both parties to strengthen cooperation in related fields to promote the exchange of expertise and growth opportunities.
Following the implementation of the LoI, EPIC and Qaswa intend to strengthen cooperation through the exchange of expertise and strategic investment opportunities, encourage cooperation and improve the quality of service offerings for the benefit of their respective interests.