EPIC Berhad, a Terengganu GLC and a member of Terengganu Inc Group, has signed a Letter of Intent (LoI) with Qaswa Holdings Sdn Bhd (Qaswa), a member of the Adinin Group of Companies, opening the door to a game-changing partnership for the Brunei Darussalam Maritime Cluster, particularly involving its integrated marine maintenance and decommissioning facility.

Held at the Ministry of Finance and Economy Building, the signing ceremony was witnessed by Menteri Besar of Terengganu, Yang Amat Berhormat Dato’ Seri Ir. Dr. Ahmad Samsuri Mokhtar; Minister at the Prime Minister’s Office and Minister of Finance and Economy II, Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew Abdullah; Deputy Minister of Finance and Economy, Yang Mulia Dato Seri Paduka Awang Haji Khairuddin Haji Abdul Hamid; as well as High Commissioner of Malaysia to Brunei Darussalam, His Excellency Datuk Mohd Aini Atan.

The signed LoI paves the way for EPIC Berhad to potentially acquire shares in Qaswa and support with the operations of Brunei Darussalam’s first integrated marine maintenance yard (MMY) and decommissioning yard (DY). It also outlines the commitment of both parties to foster collaboration in other related areas, aimed at promoting expertise exchange and growth opportunities.

Situated on a 27-acre site at Pulau Muara Besar, the integrated yard—developed by a consortium consisting of local lead partner Qaswa, the Ministry of Finance and Economy’s Strategic Development Capital Fund, and two foreign companies serving as lead technical partners; South Korea’s Dongil Shipyard Co Ltd for marine maintenance and the United Kingdom’s CessCon Decom Ltd for decommissioning—sets to play a pivotal role in the country’s maritime infrastructure. It is slated to be operational by 2026 and will be a hub for sustainable marine services in the region, offering key services such as marine maintenance, repair, and overhaul (MRO) and decommissioning remediation (DR).

At the ceremony, EPIC Berhad was represented by its Group Chief Executive Officer, Ts. Haji Muhtar Suhaili, and Group Chief Financial Officer, Wan Mohd Azilah Wan Abdullah. Qaswa, on the other hand, was represented by its Director, Encik Muhammad Luqman Hakeem, and General Manager, Encik Hafriz Fayadh Musa.

Following the execution of this LoI, EPIC Berhad and Qaswa aim to strengthen their partnership through targeted expertise exchange and strategic investment opportunities, promoting robust collaboration and reinforcing each other's offerings to best serve their respective stakeholders.