KUALA LUMPUR: Unique Fire Holdings Bhd
has entered into a joint venture agreement with Shanghai Mosafe Equipment Sdn Bhd and its Singaporean unit, Mosafe Protection Pte Ltd, with regards to the establishment of a joint venture company.
"This collaboration allows the parties to gather their respective resources, skills and expertise to carry on the business of the JV company, which will primarily be the manufacture, distribution, sale and supply of fire sprinklers across the globe (by the JV Company itself or through authorised representatives/third parties)," said Unique Fire in a bourse filing.
China-based Shanghai Mosafe is principally involved in the research and development and sales of fire safety equipment, fire extinguishers and automatic fire extinguishing systems.
Unique Fire said it has been proposed to name the joint venture Unique Mosafe Sdn Bhd.
Under the terms of the agreement, Unique Fire shall hold 60% equity in the partnership while Singapore Mosafe will own the remaining 40%.
