Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on December 5, 2017

KUALA LUMPUR: Handal Resources Bhd has partnered China-based Harbin Jingwei Advanced Composite Material and Engineering Corp to jointly develop and promote innovations and advance material application for the oil and gas industry in Malaysia and the region.

Harbin Jingwei, which is involved in the business of advanced high performance composite material, is a unit of Shanghai EB Pipeline Engineering Ltd.

Under the collaboration agreement inked on Nov 28, Handal will jointly develop and promote solutions/products and perform project management for contracts secured, while Shanghai EB will provide technical know-how on advance material engineering.

“This project is under China policy of “One Belt, One Road”. Its technology is under independent research and development and this hi-tech composite material which is an advanced technology of strategic importance in the oil and gas development as well as other industries, both at home and abroad,” said Handal in a Bursa Malaysia filing.

In a separate statement, Handal chief operating officer Zahari Hamzah said the agreement also showcases the flexibility of Handal’s business model, enabling it to move deeper into the value chain and sharpen its expertise beyond its core activity of providing offshore crane services.
 

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