KUALA LUMPUR (March 23): Boustead Heavy Industries Corp Bhd (BHIC) has signed a memorandum of understanding (MoU) with the National Defence University of Malaysia (NDUM) to collaborate on research and training.

The parties will collaborate on academic, research, and development that are of mutual interest to both BHIC and NDUM, and explore training and professional development, the maritime specialist said in a statement on Bursa Malaysia today.

It will also involve collaboration for engagement, lectures, student attachments, research collaboration, and career exposure, as well as seminars, workshops, and conferences, BHIC said.

NDUM has previously entered into various collaborative agreements to enhance its educational and research capabilities in the engineering fields, including with Zimbabwe Defence Forces, Zimbabwe National Defence University, and Chemring Technology Solutions, which is based in the UK.

The duration of the MoU is two years from the signing date and each part will bear its own costs and expenses related to the agreement, BHIC said.

It is not expected to have any material effect on the group's earnings and is not subject to approval of shareholders or government authorities.

Shares in BHIC were unchanged today at RM2.52 after closing at a one-year high yesterday.