KUALA LUMPUR (May 5): Seacera Group Bhd inked a memorandum of understanding (MoU) with Sime Darby Property Bhd to strengthen its position as one of the preferred suppliers for ceramic tiles and its related products.

Seacera told the local bourse that under the MoU, Sime Darby Property will establish and implement a three-year programme known as the Bumiputera Vendor Development Programme (BVDP), and identify and select capable bumiputera vendors to be enrolled into this programme.

Seacera Ceramics, a subsidiary of Seacera, being the selected participant, will execute the BVDP in line with the requirements of the BVDP as stated in the MoU.

Both parties have decided to develop cooperation with the objective of assisting Bumiputera vendors to enhance their business revenue and capabilities and accordingly, to be recognised as Sime Darby "Preferred Vendor" upon successful completion of the BVDP.

Sime Darby Property is a subsidiary of Sime Darby Bhd.

By participating in a programme initiated by government-linked companies, Seacera said it could empower and strengthen its position as well as allow it to move forward in the value chain in the ceramic tiles industry.

"The MoU would provide opportunities to the company in improving any relevant area to better serve our customers and product ranges as well as being testament to our future clients in the ceramic tiles industry locally and abroad," it added.

Shares in Seacera closed one sen or 1.16% lower at 85.5 sen, for a market value of RM161.85 million.