Aneka Jaringan unit forms joint venture

Aneka Jaringan managing director Pang Tse Fui

KUALA LUMPUR: Aneka Jaringan Holdings Bhd’s wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, has formed a joint venture (JV) company in the Philippines with Sunway Geotechnics (M) Sdn Bhd (SunGeo) and Pertama Crane & Engineering Sdn Bhd.

In a statement Tuesday, Aneka said the JV company is known as Sunway Aneka Pertama Geotechnics (PH) Inc (SAPGeo) and will undertake the design and/or construction of foundation, retaining, substructure and ground improvement works in the Philippines.

The shareholding proportions in SAPGeo are SunGeo 43%, Aneka 42% and Pertama 15%.

“This JV is in line with our plans to expand into fast growing countries in the South East Asia region and will allow us to infiltrate the vibrant construction market in the Philippines,” managing director Pang Tse Fui said.

“A US$30bil infrastructure stimulus programme has been previously approved to boost the country’s employment rates. There are abundant opportunities, especially in infrastructure projects to ease traffic congestion in metro Manila.

“We are proud to be in partnership with SunGeo and Pertama who are best-in-class players known for high reliability and quality delivery,” he said, adding that the company hopes its venture into the Philippines will also start contributing positively next year.

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