PETALING JAYA: Destini Bhd and Felcra Bhd have inked a memorandum of understanding (MoU) to provide, among others, maintenance, repair and overhaul (MRO) services for industrial facilities and equipment for the agriculture and related industries within the Asean region.
In a filing with Bursa Malaysia, Destini said the MoU – which was signed by Destini’s wholly owned subsidiary, Destini Engineering Technologies Sdn Bhd, and Felcra’s wholly owned subsidiary, Felcra Processing & Engineering Sdn Bhd – would see the incorporation of a joint-venture company (JVco) within three months from the date of the MoU.
Destini said the JVco would provide MRO services to Felcra’s palm oil factories, and commercial and residential properties. It will be a “under one roof” service concept covering mechanical and electrical, electronics and civil works.
On its rationale for forming the MoU, Destini said it would serve as a platform for Destini to provide MRO services in the plantation industry, which is in line with its strategic direction of diversification of its recurring revenue within Destini’s core
business of MRO services.
Both parties have also agreed to provide training for the services provided by Destini to Felcra College students, and participants, and offer employment opportunities to them.