KUALA LUMPUR: Integrated construction engineering company, Vizione Holdings Bhd (VHB), via its wholly-owned subsidiary, Vizione Builder Sdn Bhd (VBSB), signed a joint venture agreement with Permata Rebana Sdn Bhd (PRSB) to collaborate in the construction of a medical lab at Bandar Enstek, Seremban, Negeri Sembilan.

Both companies would also procure sub-contract works amounting to RM130.0 million from the PRSB.

The project was awarded to PRSB by Kementerian Kesihatan Malaysia (KKM).

VHB managing director Datuk Ng Aun Hooi said under JVA, the company will play a role in enhancing the country’s healthcare system given its importance to the society at “arge.

“With the combined strength and experience of our JV partner and VHB, we are confident in delivering top-quality work in the construction of the medical lab in Negeri Sembilan,” he said in a statement today.

PRSB is principally engaged as a building and civil engineering contractor.

Separately, Vizione Energy Sdn Bhd (VESB), another wholly-owned subsidiary of VHB, signed a joint venture agreement with GPP Gasification Sdn Bhd (GGSB) and PRSB to incorporate a joint venture company (JVCo) to share resources and expertise to undertake the production and sale of biomethane or biogas from palm oil mill effluent as a concession owner.

Through the JVCo, VHB will be able to further its venture into the renewable energy (RE) space, especially following the memorandum of cooperation signed with Malaysian Green Technology and Climate Change Corporation (MGTC) in May 2021 to explore RE opportunities, including a biogas project.

The biogas project will be undertaken on a built-own-operate-transfer basis.

The initial phase of the biogas project is expected to involve 12 palm oil mills at an estimated investment cost of between RM500 million to RM550 million.

VESB will hold 45 per cent ownership in the JVCo, whereas PRSB and GGSB will own the balance 35 per cent and 20 per cent respectively.

PRSB is principally a building and civil engineering contractor while GGSB is engaged in biogas projects and is a fully-owned subsidiary of GPP Resources Bhd.

Ng said back in May 2021, VHB has penned a memorandum of cooperation with MGTC to explore collaborative opportunities, including a biogas project with an estimated investment cost of some RM500 million.

“As such, our new JVCo is a positive step made towards the materialisation of RE projects.

“Presently, we are already in the RE segment through our participation to design, build and operate a hydropower dam in Pedu, Kedah.

“Moving forward, we are confident to seize more opportunities in the RE space given the acceleration of clean energy transition globally as nations work towards their net-zero carbon goals,” he said.

Ng said there are plenty of compelling synergies between the parties, and thus the company is confident that both joint ventures will yield positive outcomes.

“As Malaysia enters into the endemic phase of Covid-19, the company is also anticipating increased job flows from both the private and public sectors.

“Beyond that, our focus this year will be on executing and delivering our strong order book, which would subsequently translate to better financial performance,” Ng said.

Source : NST