PKNM, Dayang Enterprise, Main Velocity ink MOU for O&G venture

MELAKA, March 12 — The Malacca State Development Corporation via its subsidiary, PKNM Sdn Bhd, has signed a memorandum of understanding (MoU) with Dayang Enterprise Sdn Bhd and Main Velocity Sdn Bhd to venture into the oil and gas (O&G) sector.

Chief executive officer Ridhuan Affandi Abu Bakar said the collaboration would include the sharing of knowledge and expertise.

“This is important as Melaka has many ongoing O&G-related projects including Petronas’s Euro 5 diesel and Edra Power Holdings Sdn Bhd’s combined cycle gas turbine power plant.

“With Dayang Enterprise and Main Velocity’s expertise, the state’s ambition to penetrate the O&G sector will be successful and also generate revenue for the state,” he said after the signing of the MoU with the three companies in Ayer Keroh here today.

The signatories to the MoU were Ridhuan, Dayang Enterprise managing director Datuk Tengku Yusof Tengku Ahmad and Main Velocity director Syarifah Fatin Amirah Syed Abdul Rahman.

Present were Chief Minister Adly Zahari and state secretary Datuk Hasim Hasan.

Meanwhile, Adly said the sharing of expertise would have a great impact not only on the state’s economic development but also create more jobs for the people.

“With the MoU in place, the companies will also look for new opportunities in the automotive, aerospace, renewable energy and, the electrical and electronic sectors,” he added. — Bernama