Mooreast will provide technical support, engineering expertise, as well as raw materials and components, while SDJ, a unit of Sime Darby, will undertake a pilot fabrication of the products, manpower, and logistics.
This tie-up is taking place amid growing demand for reliable engineering and equipment manufacturing for floating renewable projects in Malaysia and the region, says Mooreast.
Sim Koon Lam, executive director of Mooreast, calls Sime "one of the most well established" industrial groups in the region.
"The proposed collaboration will allow Mooreast to broaden its reach in Malaysia. We see strong potential in combining our respective capabilities to pursue the offshore renewable energy sector in Malaysia and the region," he adds.
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"SDJ’s long-standing expertise, built over three decades, combined with Mooreast’s subsea know-how, will strengthen local supply chains, create skilled jobs and support the country’s clean-energy transition," says Scott Nicholls, managing director of Sime's industrial solutions unit.
Mooreast shares last traded at 13 cents.
