The Star Online
14th April, 2015
KUALA LUMPUR: Benalec Holdings Bhd, which is reclaiming land in Johor which will be developed into an integrated petroleum and petrochemical hub, has signed a memorandum of understanding (MoU) with Pestech International Bhd for the power supply infrastructure.
The marine construction firm told Bursa Malaysia on Tuesday that Benalec Sdn Bhd, via its unit Tanjung Piai Maritime Industries Sdn Bhd (TPMISB), had entered into an MoU with Pestech International’s unit Pestech Sdn Bhd (PSB) for exclusive exploratory efforts to establish power supply infrastructure to the Tanjung Piai Integrated Petroleum and Maritime Industrial Park.
TPMISB, which plans to develop the 3,485-acre industrial park, and PSB will begin discussions and form a definitive contract within six months on an exclusive basis from the date of the MoU or such further period(s) as may be mutually agreed on by the parties.
TPMISB agrees to engage PSB and its nominated consultant (if required) exclusively to apply, design, for the electrical infrastructures to the park. Then it will appoint PSB to carry out the design, manufacture, testing, delivery of equipment and installation, construction and commissioning of the proposal on a full turnkey basis via a project contract based on terms and conditions to be determined later.
Benalec said the MoU would have no material effect on earnings, revenue and net assets per share of the group for the financial year ending June 30, 2015, but was expected to contribute positively to the future earnings should the project contract materialise.