PETALING JAYA: Destini Bhd and Felcra Bhd today 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 Malaysia and the Asean region.
Destini said the MoU will serve as a platform for Destini Engineering Technologies Sdn Bhd (DETSB) 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.
The MoU signed by Destini’s wholly owned subsidiary, DESTB and Felcra’s wholly owned subsidiary, Felcra Processing & Engineering Sdn Bhd, will see a joint-venture company (JVco) set up within three months from the MoU’s date.
The JVco will provide MRO services to Felcra’s oil palm factories, commercial and residential properties. It will be a “under one roof” service concept covering mechanical and electrical, electronics and civil works.
Both parties have also agreed to provide training for the services provided by Destini to Felcra College students and/or participants and to offer employment opportunities to them.
Destini’s president and CEO Datuk Rozabil Abdul Rahman said: “The group’s partnership with Felcra will enable Destini to adopt the MRO best practices that we have developed within the aviation, marine, land systems and O&G industries to the agriculture industry. We believe this transfer of technology will enhance further the productivity of Felcra and Malaysia’s agriculture industry as a whole.”
Felcra CEO Datuk Zukarnain Md Eusope said that with the collaboration, Felcra is able to tap on Destini’s expertise and experience in MRO.
On Bursa Malaysia today, Destini was up 3 sen to close at 44.5 sen on volume of 1.53 million shares.