Eastern Pacific Industrial Corporation  Berhad ("EPIC Berhad"), a Terengganu Government-Linked Company (“GLC”) and a  member of Terengganu Incorporated Sdn Bhd ("Terengganu Inc"), has signed a Letter  of Intent ("LoI") with Qaswa Holdings Sdn Bhd ("Qaswa"), a member of the Adinin Group  of Companies, opening the door to a game-changing partnership for the Brunei  Darussalam Maritime Cluster, particularly involving its integrated marine maintenance  and decommissioning facility. The signing ceremony, held at the Ministry of Finance  and Economy Building, was witnessed by Menteri Besar of Terengganu, Yang Amat  Berhormat Dato’ Seri Ir. Dr. Ahmad Samsuri Mokhtar; Minister at the Prime Minister’s  Office and Minister of Finance and Economy II, Yang Berhormat Dato Seri Setia Dr Awang  Haji Mohd Amin Liew Abdullah; Deputy Minister of Finance and Economy, Yang Mulia  Dato Seri Paduka Awang Haji Khairuddin Haji Abdul Hamid; as well as High  Commissioner of Malaysia to Brunei Darussalam, His Excellency Datuk Mohd Aini Atan.

The signed LoI paves the way for EPIC Berhad to potentially acquire shares in Qaswa and support with the operations of Brunei Darussalam’s first integrated marine  maintenance yard ("MMY") and decommissioning yard ("DY"). It also outlines the  commitment of both parties to foster collaboration in other related areas, aimed at  promoting expertise exchange and growth opportunities. 

Situated on a 27-acre site at Pulau Muara Besar, the integrated yard—developed by a  consortium consisting of local lead partner Qaswa, the Ministry of Finance and  Economy’s Strategic Development Capital Fund, and two foreign companies serving as  lead technical partners; South Korea’s Dongil Shipyard Co Ltd for marine maintenance  and the United Kingdom’s CessCon Decom Ltd for decommissioning—sets to play a  pivotal role in the country’s maritime infrastructure. It is slated to be operational by 2026 and will be a hub for sustainable marine services in the region, offering key services  such as marine maintenance, repair, and overhaul ("MRO") and decommissioning  remediation ("DR"). 

At the ceremony, EPIC Berhad was represented by its Group Chief Executive Officer, Ts.  Haji Muhtar Suhaili, and Group Chief Financial Officer, Wan Mohd Azilah Wan Abdullah.  Qaswa, on the other hand, was represented by its Director, Encik Muhammad Luqman  Hakeem, and General Manager, Encik Hafriz Fayadh Musa.

EPIC BERHAD SIGNS LOI WITH QASWA HOLDINGS SDN BHD TO EXPLORE HIGH-IMPACT PARTNERSHIP IN BRUNEI DARUSSALAM’S MARITIME AS WELL AS OIL AND GAS INDUSTRIES 

Also present were Chairman of Terengganu State Digital Economy, New Income, Trade,  Industry, and Green Technology Committee, Yang Berhormat Haji Mohd Nurkhuzaini Ab  Rahman; Director of Terengganu Economic Planning Unit, Yang Berbahagia Dato’ Haji  Tun Ahmad Faisal Tun Abdul Razak; Chairman of Qaswa, Haji Musa Adnin; President  and Group Chief Executive Officer of Terengganu Inc, Haji Burhanuddin Hilmi Mohamed  @ Harun; as well as Board Members of EPIC Berhad, Yang Berhormat Datuk Haji Ahmad  Amzad Mohamed @ Hashim and Yang Berhormat Ir. Ts. Haji Khairil Nizam Khirudin. 

Ts. Haji Muhtar, in his speech, stated, “This potential partnership marks a significant  chapter for EPIC Berhad as we expand our international footprint and expertise. We are  thrilled to explore this high-impact venture, which not only aligns with our growth  strategy but also contributes to the development of both Malaysia’s as well as Brunei  Darussalam’s economy and marine capabilities.” 

The LoI signals EPIC Berhad’s commitment to growth through strategic collaborations,  strengthening its position as a reliable player in the oil and gas industry while driving  innovation in decommissioning and marine services. It is timely with the development  of the EPIC Berhad’s Green Ship Recycling Facility ("GSRF") at Kemaman Port, which will  also function as an Onshore Disposal Yard or Decommissioning Remediation Facility  ("DRF"). Spanning a 13-acre site at the Kemaman Supply Base ("KSB"), this dual-purpose  facility—the first of its kind in Malaysia—is scheduled to be fully operational by the end  of 2026 and poised to become a cornerstone for sustainable ship recycling and  decommissioning. 

Meanwhile, Haji Musa said, “This LoI signing marks a pivotal milestone as we embark on  a potential partnership with EPIC Berhad for the proposed collaboration and  investment. Leveraging on its expertise and established track record, this strategic  alliance is expected to bring substantial benefits to Qaswa while contributing further to  Brunei Darussalam’s economic development. Our collaboration also represents a  significant step towards enhancing local capabilities in the oil and gas sector and local economy, in line with the nation’s vision for sustainable economic development.“ 

Following the execution of this LoI, EPIC Berhad and Qaswa aim to strengthen their  partnership through targeted expertise exchange and strategic investment  opportunities, promoting robust collaboration and reinforcing each other’s offerings to  best serve their respective stakeholders. 

#MalaysianBusiness #EPICBerhad #QaswaHoldings #Brunei #Maritime #OilAndGas #Decommissioning #Investment #Partnership

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