PETALING JAYA: Billionaire Tan Sri Syed Azman Syed Ibrahim’s Weststar Group has joined hands with an Australian firm to manufacture defence and satellite systems, among others.
On July 1, Weststar Defence Industries Sdn Bhd entered into a strategic joint venture agreement (JVA) with Rocket Technologies International Pty Ltd (RTI).
Under the strategic JVA, the parties will establish joint-venture entities in both Malaysia and Australia to deliver critical sovereign aerospace and defence capabilities.
These include manufacturing and assembly of integrated defence systems, civilian satellite systems and specialised government satellite solutions incorporating local design and content.
The partnership also comprises provision of rocket testing and certification as well as maintenance, repair and overhaul services, the firm said in a statement.
In addition, both parties will develop orbital and sub-orbital launch capabilities.
The strategic JVA also covers national industry development initiatives involving workforce education, technical training and industry-supported research and development collaborations with leading aerospace and defence universities in Malaysia and Australia.
In a statement, Weststar said the partnership is also expected to contribute significantly towards bilateral trade and economic growth between Malaysia and Australia, with long-term commercial potential estimated to exceed US$10bil through future aerospace, defence, satellite and advanced technology programmes.
“This strategic JVA represents more than a business partnership.
“It reflects a long-term commitment towards building sovereign aerospace and defence capabilities, creating high-value industries and strengthening technological collaboration between Malaysia and Australia.
“We believe this collaboration will create meaningful opportunities for industry growth, talent development, innovation and economic value creation for both nations while contributing towards regional capability enhancement and long-term strategic cooperation,” said Syed Azman.
Meanwhile, RTI founder Allan James Payne said the collaboration combines the industrial strengths, expertise and long-term vision of both organisations to develop advanced sovereign capabilities that will support future industry growth, technology advancement and regional cooperation between Australia and Malaysia.
