KUALA LUMPUR (April 21): Enra Group Bhd (KL:ENRA) has signed a memorandum of understanding (MOU) with Boustead Holdings Bhd (BHB) to explore maintenance, repair, and overhaul services for naval propulsion and power systems, as well as support for Royal Malaysian Navy vessels throughout their lifecycle.
The energy logistics, property and maintenance, repair and overhaul company counts the late Tun Abdullah Ahmad Badawi’s son Tan Sri Kamaluddin Abdullah as its largest shareholder with a 12.24% interest, via ABK Holdings Sdn Bhd.
In a filing with Bursa Malaysia, Enra said its 70%-owned unit Enra Energy Solutions Sdn Bhd signed the MOU with BHB to collaborate on targeted naval projects, including joint participation in tenders, sharing of technical expertise, and coordinated business development efforts.
The collaboration will also explore the development of codification capabilities, including parts identification, standardisation, and logistics support frameworks.
The MOU is a non-binding agreement to guide cooperation and does not involve financial commitments at this stage. Any specific projects and investments will be set out later in a separate agreement. It is valid for one year and can be extended if both parties agree.
The company said the collaboration is expected to contribute positively to Enra Group's long-term strategic positioning in the maritime sector.
Enra reported a net loss of RM43.2 million for the financial year ended March 31, 2025. For the nine-month period of financial year 2026 (9MFY2026) it posted a net profit of RM4.1 million from a net loss of RM23.7 million in the previous year. This was on a significantly higher revenue of RM81.9 million compared with RM20.5 million for the same period in financial year 2025.
Among its board of directors are former Securities Commission Malaysia chairman Datuk Ali Abdul Kadir, who chairs the board, and former Petroliam Nasional Bhd (PETRONAS) president and CEO Tan Sri Shamsul Azhar Abbas, who is a senior independent non-executive director.
Enra closed Tuesday unchanged at 65 sen valuing the company at RM109.5 million.