KUALA LUMPUR (March 22): Boustead Heavy Industries Corp Bhd (BHIC) is teaming up with Technology Depository Agency Bhd (TDA) to develop a Malaysian national airspace policy, as well as to set up a national airspace management centre for the aviation/aerospace industry.

In a filing with Bursa Malaysia today, BHIC said it has entered into a two-year memorandum of understanding (MoU) with TDA, an agency under the Ministry of Finance, to jointly establish the Malaysian national airspace policy and the centre and its related infrastructure and systems.

"Both BHIC and TDA envisage that the collaboration contemplated by this MoU will serve as a forum for collaboration between the parties for any matter of joint interest vis-à-vis a strategic alliance," it added.

The two parties will exchange technical know-how in matters of common interest and share information.

"The current Industrial Collaboration Programme framework will be applied and used in the implementation of the policy and centre," said BHIC, adding that the MoU will contribute positively to its future earnings.

At 4.28pm, BHIC shares were up one sen or 0.4% at RM2.52, with 63,800 shares traded. Its market capitalisation stood at RM623.63 million.