KUALA LUMPUR (April 21): Uzma Bhd (KL:UZMA) has inked a memorandum of understanding (MOU) with Boustead Holdings Bhd to assess a potential collaboration in satellite-based communications and geospatial data, particularly for defence and security applications.
In a bourse filing on Tuesday, Uzma said the agreement was signed by its wholly-owned unit Uzma Space and Defence Sdn Bhd. Both parties will evaluate opportunities involving satellite communications, Earth observation, geospatial intelligence solutions for defence, government, and critical infrastructure uses.
Under the MOU, the areas being covered include jointly developing solutions that combine satellite systems with data analytics, as well as collaborating on project bids and engagements at a local and regional level.
The MOU will run for 12 months from April 21, and may be extended upon mutual agreement.
Boustead Holdings is an investment holdings company under the Armed Forces Fund Board (LTAT) and has interests in defence, healthcare, property and industrial sectors.
The indicative value of the MOU was not disclosed in the filing or press statement.
“Through Uzma Space and Defence, we are focused on building integrated capabilities across satellite communications, geospatial data and AI driven analytics. This allows us to move beyond data acquisition into delivering actionable intelligence that supports real world operational needs,” said Uzma group CEO Datuk Kamarul Redzuan Muhamed in a joint statement.
Boustead group managing director Datuk Dr Ahmad Sabirin Arshad said that he sees the proposed partnership as having strong potential to contribute to a more resilient and future-ready defence landscape in Malaysia.
Both parties added that there will be an established framework for further evaluation and development of a proposed collaboration, which includes proof-of-concept initiatives and negotiation of definitive agreement.
Shares of Uzma were up by one sen or 2.5% at 41 sen at the time of writing on Tuesday, valuing the group at RM244.1 million.