malaysiang
Bandar Seri Begawan: Terengganu state-linked company Eastern Pacific Industrial Corporation Bhd (EPIC) has signed a letter of intent (LOI) with Brunei-based Qaswa Holdings Sdn Bhd (Qaswa) for a partnership in the Brunei Maritime Cluster, focusing on its integrated marine maintenance and decommissioning facility.
According to BERNAMA News Agency, EPIC group chief executive officer Muhtar Suhaili stated that the potential partnership marks a significant chapter for EPIC Bhd as the company expands its international footprint and expertise. Muhtar expressed enthusiasm for the venture, highlighting its alignment with EPIC’s growth strategy and its contribution to the development of Malaysia’s and Brunei Darussalam’s economies and marine capabilities.
Muhtar further emphasized the importance of cultivating a lasting business partnership rooted in strong integrity, promoting sustainable growth for all involved, and extending benefits to a broader community in both Malaysia and Brunei. He noted that the potential p
artnership would strengthen EPIC Bhd’s position as a reliable player in the oil and gas industry while driving innovation in decommissioning and marine services.
EPIC indicated that the LOI paves the way for the company to potentially acquire shares in Qaswa and support the operations of Brunei’s first integrated marine maintenance yard and decommissioning yard. The 14.97-hectare integrated yard, located at Pulau Muara Besar, Brunei, was developed by a consortium including local lead partner Qaswa, the Ministry of Finance and Economy’s Strategic Development Capital Fund, and two foreign companies serving as lead technical partners.
The yard, slated to be operational by 2026, aims to be a hub for sustainable marine services in the region, offering key services such as marine maintenance, repair, and overhaul (MRO) and decommissioning remediation.
The LOI signing ceremony witnessed participation from both EPIC and Qaswa, with EPIC represented by Muhtar and Qaswa by its director Muhammad Luqman Hakeem and gen
eral manager Hafriz Fayadh Musa. The event was also attended by the Menteri Besar of Terengganu Datuk Seri Dr Ahmad Samsuri Mokhtar, Minister of Finance and Economy II of Brunei Datuk Seri Dr Awang Haji Mohd Amin Liew Abdullah, and the High Commissioner-designate of Malaysia to Brunei Datuk Mohd Aini Atan.
