PETALING JAYA: Ni Hsin Resources Bhd has entered into a memorandum of understanding (MoU) with Protection Rigging Access Services Sdn Bhd (PRA) with the aim of fabricating and supplying scaffolding, materials and accessories to the latter.
“The MoU shall form the basis of consensus of the parties to enter into a formal agreement,” Ni Hsin said in a filing with Bursa Malaysia yesterday.
The premium cookware maker said the MoU was in the best interest of the company.
“The MoU is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the company for the financial year ending Dec 31, 2017.
“Should the business materialise, it is expected to contribute positively to the future earnings of the group.”
Ni Hsin said the MoU is valid for a period of three months from the date of signing, unless earlier terminated or upon the signing of a formal agreement. PRA is principally involved in onshore fabrication, offshore facilities maintenance, tank, vessels and pipe cleaning, inspection and monitoring, painting and blasting, coating and insulation, scaffolding, rope access/abseiling and specialist manpower supply for the oil and gas industry.
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