KAB forms SPV to expand mechanical work division

Through this partnership we are confident that we will be able to expedite our growth plans and at the same time, complement our expansion in the operations and maintenance services,” said KAB managing director Datuk Lai Keng Onn.

KUALA LUMPUR: Kejuruteraan Asastera Bhd’s (KAB) subsidiary KAB Technologies Sdn Bhd (KABT) has entered into a binding term sheet with Vodex Technical Services Sdn Bhd to expand its mechanical work division.

The group said in a statement that the two parties formed a special purpose vehicle or SPV named TVT Link Tech Solutions Sdn Bhd with KABT owning a 60% stake and the remainder going to Vodex.