PETALING JAYA: AWC Bhd’s unit, DD Techniche Sdn Bhd (DDT), has entered into a 50:50 joint venture with Techkem Utilities Sdn Bhd and Techkem Resources Sdn Bhd to explore and finance water-related opportunities in Malaysia and in Asean.
According to Bursa Malaysia filings, the partnership has yielded immediate results following the acceptance of a letter of award from Real Teamtrade Sdn Bhd on Sept 18, 2020, for subcontract works relating to the supply and installation of mechanical and electrical works for a water treatment plant in Kapit, Sarawak for a total contract sum of RM7.33mil.
Works are expected to be completed by Dec 9, 2021 and shall contribute positively to AWC’s earnings over the duration of the project.
In a press release yesterday, AWC group CEO and president Datuk Ahmad Kabeer said: “Water is such a valuable resource and we foresee that this will be a huge part of the group in the near future.
“We are therefore very excited to formalise this partnership with Techkem following the MoU signed in July 2020.
“We will continue to work hard and seek out opportunities as we build inroads into the water infrastructure sector."
Did you find this article insightful?
100% readers found this article insightful