KUALA LUMPUR (July 3): Uzma Bhd announced that it is looking to partner with Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) to jointly provide services in the oil and gas (O&G) industry for select identified projects.

In a bourse filing on Monday (July 3), Uzma said its wholly-owned subsidiary Uzma Engineering Sdn Bhd has inked a memorandum of understanding (MoU) with MHB’s wholly-owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd to explore potential collaborations, develop innovative solutions, and provide comprehensive services in the O&G industry.

The group noted this is inclusive of floater conversation or modification as well as renewable energy solutions

Uzma said the pair will jointly prepare and submit competitive technical and commercial proposals for any potential, selected and agreed prospect.

“The duration of the MoU will be for one year effective July 3, 2023, until July 2, 2024,” the group said.

Meanwhile, MHB announced the resignation of Ahmad Zakri Md Salleh as the group’s chief financial officer (CFO) effective July 31, due to “staff mobility within Petronas”.

Former MISC Bhd group internal audit head Mohammad Romzi Shafie will take over the MHB's CFO post effective Aug 1.

At the time of writing, Uzma shares were up half a sen or 0.81% to 62.5 sen, giving the group a market capitalisation of RM220.02 million. 

Shares in MHB were up one sen or 1.96% to 52 sen, valuing the group at RM832 million.