KUALA LUMPUR, 13 October 2021 – Malakoff Corporation Berhad (“Malakoff”) and Gas Malaysia Berhad (“Gas Malaysia”), both members of the MMC Group, are pleased to announce the formation of Malakoff – Gas Malaysia Cogen O&M Sdn Bhd, a Joint Venture Company (“JVCo”) that will be established through the joint venture agreement today.
The alliance is a strategic partnership between two utility companies within the MMC Group of Companies, bringing together the expertise and resources of both parties to undertake Operations and Maintenance (“O&M”) services for cogeneration plants in Malaysia.
Malakoff is a multinational Power, Water and Environmental Services Group with core focus in power generation, water desalination, O&M and environmental services. Gas Malaysia is licensed under the Gas Supply Act 1993 to supply and sell reticulated natural gas and liquefied petroleum gas to industrial, commercial and residential users. In addition, Gas Malaysia also develops, operates and maintains the Natural Gas Distribution System (NGDS) within Peninsular Malaysia.
Through this joint venture, Malakoff’s subsidiary, Malakoff Technical Solutions Sdn Bhd (“MTS”) will hold a 51% equity interest and the remaining 49% will be owned by Gas Malaysia’s wholly-owned subsidiary, Gas Malaysia Ventures 1 Sdn Bhd.
MTS is a full-fledged global O&M service provider for power and water desalination plants and has established its footprint in Malaysia, ASEAN (the Association of Southeast Asian Nations) and MENA (the Middle East and Northern Africa).
Encik Anwar Syahrin Abdul Ajib, Managing Director/Chief Executive Officer of Malakoff is optimistic that this joint venture will accelerate the company’s growth in the cogen business.
“This is a great opportunity for Malakoff to further expand our good track record in the O&M business segment. We welcome Gas Malaysia’s participation as our partner, as their vast experience will bring more opportunities and synergies to the JVCo,” he added.
Commenting on the formation of this strategic alliance, Encik Ahmad Hashimi Abdul Manap, the Group Chief Executive Officer of Gas Malaysia said, “Strategic alliances have become an increasingly vital element for our long-term growth strategy. We believe this partnership will further solidify our presence in the market.”
