PETALING JAYA: Enra Group Bhd
is teaming up with Chinese oil and gas service provider China Offshore Engineering & Technology Co Ltd to jointly bid for a floating storage and offloading (FSO) project in South-East Asia.
In a filing with Bursa Malaysia, Enra said its indirect wholly-owned subsidiary Hexagon Energy Logistics Sdn Bhd had entered into a pre-joint bidding cooperation agreement with China Offshore on Sept 7.
The agreement sets out the parties’ intention to “work exclusively” with each other in preparing and submitting a joint bid for the upcoming tender.
“The parties intend to negotiate in good faith regarding the specific scope of work, pricing, and responsibilities upon receipt of the official project tender documents and to formalise such arrangements in a separate definitive agreement,” it noted.
The group did not provide further details on the project, including the potential contract value, client or location.
Enra said the agreement serves as a non-binding framework for cooperation and does not create any financial obligations at this stage.
It will remain in effect until the parties enter into a definitive agreement, the project is cancelled, or both parties mutually agree to discontinue their pursuit of the project.
“In the event Hexagon enters into a definitive agreement with China Offshore, the board of directors and management will exercise due care in considering the associated risks and benefits,” it said.
Enra, formerly known as Perduren (M) Bhd, is involved in energy-related logistics and chartering, as well as engineering, operations and maintenance services. It also has businesses in property development and maintenance, repair and overhaul services.
The group is headed by president and group chief executive officer Tan Sri Kamaluddin Abdullah, son of the late former Prime Minister Tun Abdullah Ahmad Badawi.
Kamaluddin is also Enra’s largest shareholder, with an indirect 32.49% stake held through Trillion Icon Sdn Bhd, Paling Terbilang Sdn Bhd, Carrillo Capital Sdn Bhd, ABK Capital Sdn Bhd and ABK Holdings Sdn Bhd, according to the group’s latest annual report.
China Offshore is involved in the business of providing integrated solutions for oil and gas, decarbonisation, renewable energy, deepwater mining and other ocean resources.
