UEM EDGENTA’S STRONG REVENUE GROWTH BOOST NET PROFIT TO RM45.7MILLION IN FY2022: DECLARES 4 SEN DIVIDEND
KUALA LUMPUR, 28 February – UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), the region’s leading Asset Management and Infrastructure Solutions company, reported a higher net profit of RM45.7 million for the financial year ended 31 December 2022 (“FY2022”), compared to RM43.4 million in the previous year (“FY2021”) and for the Company to stay on course to declare a higher single-tier interim dividend of 4 sen per ordinary share for FY2022, providing 4.2% dividend yield to shareholders (against 27 Feb 2023 last traded share price) (FY2021:3 sen).
On the back of its strong contract wins and international growth strategy, the Company’s revenue increased by 10.1% to RM2.5 billion from RM2.3 billion previously. Normalised net profit in FY2022 expanded to RM62.9 million as compared to RM57.3 million in FY2021.
For the quarter under review (“Q4 FY2022”), the Company recorded a net profit of RM21.0 million on the back of RM710.5 million in revenue compared to a net profit of RM4.4 million and a revenue of RM646.2 million in the previous preceding quarter (“Q3 FY2022”).
Commenting on the results, Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta, said the Company’s top line or revenue growth in the year under review was at all-time high, surpassing even pre-Covid levels, while the strong bottom line reinforces the Company’s business and financial resilience, despite the external headwinds faced, such as wages concerns, global inflation and supply chain disruptions.
“This reflects strong growth momentum from the execution of our Edgenta of the Future 2025 (“EoTF 2025”) strategy as we strengthened our international presence through technology & sustainability- driven capabilities as we transition to become an international tech-enabled Integrated Facilities Management Service provider.
“Backed by our quality service delivery and robust in-house tech capability, we recorded strong orderbook wins of RM1.36 billion for 2022, an increase of 30% from the previous year. With 62% of new wins coming from international markets and more than 60% were new healthcare contracts, we continue to harness our strong market position in the existing operating markets while capturing market share in the high growth markets,” he said.
The Healthcare Support Services (“HSS”) division continued to secure new contracts in Malaysia, Taiwan and Singapore, this is a testament to our credibility in supporting the healthcare sectors in these countries while expanding into integrated healthcare solutions offerings such as Replacement Through Maintenance services and diversifying its clientele in adjacent sectors, such as semiconductors and hospitality.
“UEM Edgenta’s international business expansion will be further accelerated this year, in the areas of Integrated Facilities Management and deployment of our SaaS platform solution. Our portfolio and financial profile will be further enhanced through reinvestments into new growth markets, products and technology in growth areas in the Gulf Cooperation Council (GCC) countries, particularly in the Kingdom of Saudi Arabia (KSA)” said Syahrunizam.
On 2023 outlook, the Company continues to expand into international markets where demand for quality tech-enabled services are growing while maintaining and servicing its long-term portfolios in Malaysia. Growth strategy is being executed through multi-pronged approach, leveraging on inorganic growth opportunities and collaborative partnerships with the Company’s strategic partners, supported by the Company’s strong financial position.
“While we manage macro-economic headwinds, our Company continues to build upon the strong fundamentals it possesses and strengthen its readiness towards building a global Edgenta franchise. Backed by our EoTF25 strategy to fuel growth from our tech-based transformation, expanding our business footprint internationally is the way forward as UEM Edgenta is moving up the value chain in existing and new markets in the areas of smart facilities management and integrated healthcare solutions,” he added.
The immediate focus for 2023 will be leveraging on UEM Edgenta’s technological advancements in key areas such as consultancy, procurement & construction planning, operations & maintenance, as well as optimisation, rehabilitation and upgrades, putting the Company in a prime position to benefit from the fast-growing economic regions.
“We expect our plans to be fulfilled as we are pleased with the level of progress that UEM Edgenta has achieved since our concerted strategic efforts move two years ago to export our expertise to key growth areas and by teaming up with the right partners in KSA,” said Syahrunizam.
OVER 100 FOOD OUTLETS OFFERING MENU RAHMAH AT PLUS R&Rs
PLUS Malaysia Berhad (PLUS) targets more than 100 food outlets at its rest and service areas (R&Rs) across its 1,130KM-long highway network to offer Menu Rahmah by middle of March. The move is in support of the Minister of Works, YB Dato Sri Alexander Nanta Linggi’s call for highway concessionaires to support the Ministry of Domestic Trade and Cost of Living’s Menu Rahmah initiative for the Rakyat.
The First Phase implementation of Menu Rahmah for highway users was rolled out since 23rd February at selected R&Rs and lay-bys in the Central Region on PLUS offering lunch (between 12 noon and 2 pm) and dinner (between 7 pm and 9 pm) at selected participating food outlets.
For a start, 8 R&Rs and 6 lay-bys are now offering Menu Rahmah to highway users at Tapah R&R (Northbound & Southbound), Ulu Bernam R&R (Southbound), Rawang R&R (Northbound), Sungai Buloh Overhead Bridge Restaurant, Seremban R&R (Northbound), Dengkil R&R (Northbound & Southbound), Simpang Pulai Lay-by (Northbound & Southbound), Serdang Lay-by (Northbound & Southbound) and Nilai Lay-by (Northbound & Southbound).
The second phase, which covers R&Rs and lay-bys in the Northern Region, is expected to be rolled out before 2nd March. The third phase, which will be implemented before 9th March, will cover R&Rs and lay-bys at the Southern Region as well as Lebuhraya Pantai Timur 2 (LPT2).
Today, the Minister of Works and the Minister of Domestic Trade and Cost of Living, YB Datuk Seri Salahuddin Ayub paid a visit to the Dengkil R&R (Southbound) to take closer look at the implementation of Menu Rahmah at PLUS.
Also present were the Director-General of the Malaysian Highway Authority, Dato’ Ir. Mohd Shuhaimi Hassan, Board of Director of PLUS and Managing Director of UEM Group, Dato’ Mohd Izani Ghani and PLUS Chief Operating Officer Datuk Zakaria Ahmad Zabidi.
UEM EDGENTA’S MD/CEO CONFERRED WITH THE ‘GLOBAL BUSINESS ICON LEADERSHIP AWARD’
KUALA LUMPUR, 24 February – UEM Edgenta Berhad’s (“UEM Edgenta” or the “Company”) Managing Director and Chief Executive Officer, Syahrunizam Samsudin, has been conferred with the ‘Global Business Icon Leadership Award’, at the recent Global Business Forum 2023, organised by the Malaysian Global Business Council & KSI Strategic Institute for Asia Pacific, supported by Economic Club of Kuala Lumpur.
The award recognises business and industry leaders in driving excellence and steering the company’s track record on business innovation, sustainability practices, as well as shaping the future of Malaysia and transforming the nation through their commitments; exemplifying distinctive and transformational leadership.
“This notable award reflects the ingenuity, agility, and passion of all Edgenta Stars in living up to our ambition, to become the leading international technology-enabled solutions Company, as we bring our portfolio of Sustainability Programmes, Digital and Tech Solutions to the international market, and living up to our agenda of creating value and sustainable growth for our clients’ businesses. I am sincerely humbled to lead a team that is highly dedicated and ambitious in raising the bar of our industry,” said Syahrunizam.
Under Syahrunizam’s leadership, he has steered the Company to embark on the Company’s ‘Edgenta of the Future 2025’ vision and has led the organization to support the nation’s battle against the COVID-19 pandemic and in unison upholding the acceleration of nation's recovery efforts. He has successfully implemented the Company’s Environmental, Social and Governance (“ESG”) roadmap to ensure that the Company’s sustainability ambitions and targets are adopted and implemented by its stakeholders to drive change in safeguarding the climate and environment. UEM Edgenta made positive strides in 2022, leveraging on his business repositioning strategy focusing to expand internationally, to targeted high growth markets.
UEM SUNRISE RETURNS TO PROFITABILITY SUPPORTED BY STRONGER PROPERTY DEVELOPMENT AND LAND SALES FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
KUALA LUMPUR, 23 February 2023 – UEM Sunrise Berhad ("UEM Sunrise" or the "Company") today announced its financial results for the financial year ended 31 December 2022 (“FY2022”). The Company recorded a revenue of RM1.5billion compared to RM1.2 billion in 2021 driven by higher construction progress from local developments and land sales. Main revenue contributors are Residensi Solaris Parq in Dutamas, Serene Heights in Semenyih, Residensi AVA in Kiara Bay, Residensi Astrea in Mont’Kiara, Senadi Hills in Iskandar Puteri and Residensi Allevia in Mont’Kiara. This is in addition to the revenue recognised following the completion of the sale of industrial plots in phase 3 of the Southern Industrial and Logistics Clusters or SiLC and the divestment of a few non-strategic lands.
The Company recorded a significant improvement in its earnings position in tandem with the higher revenue, in addition to improvements in other income, scaled down operating expenses and better share of results from joint ventures and associates, mainly Horizon Hills and Nusajaya Tech Park in Iskandar Puteri and Forest Heights in Seremban. For FY2022, it returned to profitability, recording a profit after tax and non-controlling interests of RM80.5 million compared to a loss of RM213.0 million in the preceding financial year.
UEM Sunrise reduced its inventories by 49% to RM203.0 million as at 31 December 2022 from RM396.9 million on 31 December 2021. Its cash balances remain strong at RM1.02 billion while its net gearing remain moderate at 48%, both as at 31 December 2022. A total of 1,051 properties were completed in 2022; 711 units in Central with the balance of 340 units in Southern.
UEM Sunrise is declaring a single-tier tax exempt dividend of 0.5 sen per ordinary share for the financial year ended 31 December 2022 in line with the Company’s dividend policy.
Commenting on the financial results, Sufian Abdullah, Chief Executive Officer of UEM Sunrise said, "Our results for FY2022 is a testimony of the effectiveness of the initiatives taken under Triage, the first phase of our three-pronged strategic turnaround plan. Among the objectives under Triage was to ‘suture the bleed’ and better position ourselves for a long-term sustainable growth. We have successfully monetised our inventories, heightened our property development activities and improved our cashflow. We have also completed the bulk of the phase 3 SiLC sale and divested some non-strategic lands. Internally, we have been adopting a few structural changes in our processes, systems and design framework to achieve better cost efficiency. These have all contributed to the Group returning to profitability for FY2022”.
“As a result of our better performance and return to profitability, we are pleased to share that we will be giving out dividend of RM25.3 million, which is equivalent to 31% of our profit, in line with our dividend policy as a reward to our loyal shareholders”.
“We realise that a steady pipeline and a healthy product mix are critical contributors to the Group’s revenue. Following the positive momentum of 2022, we plan to launch products worth RM2.5 billion this year. In Central, we plan to launch THE MINH in Mont’Kiara, a ‘CLUB Edition by UEM Sunrise’ high-rise residential development and THE CONNAUGHT ONE under the ‘RISE series by UEM Sunrise’; a high-rise residential and retail development right next to Taman Connaught MRT Station. We will also launch a new high-rise residential development in Kiara Bay and more landed homes in Serene Heights. In Southern, new phases of landed homes will be launched in Senadi Hills, Aspira LakeHomes and a new development codenamed Res 7 in Gerbang Nusajaya. Internationally, plans for the AUD250 million development in Collingwood, Melbourne are being finalised, anticipated for launch this year as well. On the back of these planned launches, we have set a sales target of RM1.5 billion this year”.
“We will continue to focus on our strategic turnaround plan; “Triage, Stabilise and Sustain” having accomplished several initiatives under the first phase of Triage. We aim to strengthen our core business, ensuring that our launch plans are intact, and target to have a healthier balance sheet. We are wary of the potential headwinds within the industry and will mitigate this by instilling operational excellence in our processes and systems. These efforts will prepare the Group for the Stabilise phase targeted to commence this year, focusing on growth in other market segments, including industrial real estate and potentially further international expansion”.
He further added, “We remain steadfast in embracing sustainability aligned with the UEM Sunrise Sustainability Blueprint 1.0 and will be identifying the relevant ESG metrics as key performance indicator targets for the Group. We will also continue to hold a series of engagements to raise stakeholders’ awareness on sustainability and ESG”.
UEM SUNRISE UNVEILS PRODUCT SERIES, HAPPY+ TO CATER TO HOMEBUYERS’ LIFESTYLE NEEDS
KUALA LUMPUR, 22 February 2023 – UEM Sunrise Berhad (“UEM Sunrise” or the “Company”), has unveiled Happy+, a residential product series which segments its products into five categories; catering to homebuyers with varying lifestyles and life-stage needs, delivering a more streamlined customer experience and implement innovative product features into its future products moving forward.
“Our hope is that Happy+ will form an identifiable DNA of our products and allow our customers to find the right products that meet their individual needs. This initiative came from extensive research and years of understanding our customers’ behaviour,” said UEM Sunrise Chief Executive Officer Sufian Abdullah.
From its KASIH Series to the luxurious LUXE Collection, the Company aspires to cater to the various lifestyle needs and life-stage demands of its customers and future homebuyers, guiding them and making it more straightforward for them to identify a specific one based on their preferences for their dream home.
UEM Sunrise’s starter homes programme focuses on encouraging community-centric lifestyles in line with the Government’s initiative to help Malaysians realise their dreams of home ownership.
Designed as flexible and agile spaces able to shape and shift to suit the homebuyers’ lifestyle with limitless value propositions. These attainable homes embody practical living with an environment that exudes simplicity, recreation, and convenience.
These multi-generational oriented homes put family first. Designed for the ultimate comfort of everyone in the family, the NEST Series offers nurturing and secure environments, complimented by well-designed functional gardens and parks with recreational facilities.
These passionately curated residences are part of a beautifully designed hospitality inspired environment offering high-end features emphasising prestigious resort living.
UEM Sunrise’s most luxurious series showcases its ambitions and vision as space creators, designers, and property developer. These unique and exquisite products emphasise crafted sophisticated and privileged living – created especially for an appreciation of the finer things in life.
“Happy+ was conceived from our core design DNA to anticipate our customer’s needs, complementing their different lifestyles and life-stages. Concurrently, we are constantly finding ways to enhance customer-centricity, help future homebuyers on their journey to own their dream homes and explore innovative designs in such ways that even our customers did not know they needed them. Happy+ marks our commitment towards these goals,” said UEM Sunrise Chief Marketing Officer Kenny Wong.
New UEM Sunrise developments will carry its Happy+ DNA starting this year, starting with THE MINH, as it will be the first residence under the CLUB Edition, with more to come in the coming year.
KOLABORASI TNB DAN PLUS SEDIA 18 KEMUDAHAN PENGECAS KENDERAAN ELEKTRIK TNB ELECTRON DI 9 R&R SEPANJANG LEBUH RAYA
Pemilik kenderaan elektrik yang menggunakan rangkaian Lebuhraya PLUS Malaysia Berhad (PLUS) akan menikmati perjalanan yang lebih selesa apabila 18 kemudahan pengecas TNB Electron disediakan kepada mereka menjelang hujung tahun ini, hasil kolaborasi Tenaga Nasional Berhad (TNB) dan PLUS dengan sokongan Lembaga Lebuhraya Malaysia (LLM).
Pada ketika ini, kemudahan pengecas TNB Electron disediakan di 3 buah R&R iaitu Ayer Keroh (Arah Utara), Tapah (Arah Utara) di Lebuhraya Utara-Selatan dan Paka (Arah Utara) di Lebuhraya Pantai Timur 2 (LPT2).
Enam lagi TNB Electron sedang dibangunkan di R&R Machap (Arah Selatan), Rawang (Arah Utara), Gunung Semanggol (Arah Selatan), Gurun (Arah Utara dan Selatan) dan Paka (Arah Selatan) yang dijangka siap pada tahun ini.
Kolaborasi TNB dan PLUS ini adalah sejajar dengan aspirasi Malaysia menuju negara neutral karbon.
Menurut Presiden dan Ketua Pegawai Eksekutif TNB, Dato’ Indera Ir. Baharin Din, “Penggunaan tenaga elektrik di 9 TNB Electron itu yang dianggarkan sebanyak 99,000 kWh elektrik sepanjang tahun 2023 akan dapat menghindari pelepasan 7.2 tan metrik karbon dioksida dalam tempoh yang sama. Ini adalah bersamaan dengan pemerangkapan gas rumah hijau oleh 8.5 ekar hutan setahun.”
“Pembangunan industri EV adalah sebahagian daripada komitmen TNB untuk memberi tumpuan terhadap usaha penyelesaian tenaga lestari di peringkat nasional dan antarabangsa. Agenda Peralihan Tenaga TNB menyasarkan tenaga sifar bersih pada tahun 2050 melalui pengurangan 35% intensiti pelepasan karbon menjelang 2035,” katanya.
TNB, katanya, telah menjadikan pembangunan ekosistem EV sebagai antara empat inisiatif mempercepatkan pacuan Peralihan Tenaganya dalam usaha meningkatkan komitmen terhadap Alam Sekitar, Sosial dan Tadbir Urus (ESG) serta memastikan pertumbuhan perniagaan yang mampan.
Menurut Ahli Lembaga Pengarah PLUS dan Pengarah Urusan Kumpulan UEM, Dato’ Mohd Izani Ghani, “PLUS sebagai pengendali infrakstruktur lebuh raya yang utama negara berganding bahu bersama TNB dan menggunakan kepakaran teknologi sumber tenaga mereka untuk ditawarkan dan dinikmati oleh pengguna lebuh raya kami.”
“Sehingga Januari tahun ini, sebanyak 20 kemudahan pengecas pantas telahpun beroperasi di sepanjang Lebuhraya PLUS. PLUS juga bersedia untuk menambah lebih banyak kemudahan ini di R&R yang lain,” tambah beliau.
Menurut Dato’ Mohd Izani lagi, “Kami juga yakin bahawa Pengecas TNB Electron ini akan dapat memberikan lebih pilihan kepada pemilik kenderaan elektrik di Lebuhraya PLUS dengan kos yang lebih efektif.
Justeru, beberapa inisiatif turut dilaksanakan melalui kerjasama kedua-dua belah pihak dengan tumpuan memperluaskan lagi penyelesaian kWh, kenderaan elektrik, Tenaga Boleh Baharu serta inisiatif tenaga hijau termasuk pemasangan bumbung solar dan sistem pemantauan tenaga sebagai pelengkap inisiatif Kelestarian Alam Sekitar PLUS.
PLUS dan TNB akan meneruskan perbincangan berkaitan mobiliti rendah karbon dan meningkatkan kecekapan tenaga dengan mengoptimumkan kos elektrik di samping menyokong sumber tenaga hijau.
Majlis pelancaran operasi kemudahan pengecas kenderaan elektrik TNB Electron pertama di Kawasan Rehat dan Rawat (R&R) Ayer Keroh (Arah Utara) di Lebuhraya PLUS telah disempurnakan oleh YB Dato Sri Alexander Nanta Linggi, Menteri Kerja Raya Malaysia, hari ini.
Hadir sama ialah Ketua Setiausaha Kementerian Kerja Raya, Dato’ Wira Wan Ahmad Uzir Wan Sulaiman; Timbalan Ketua Setiausaha (Dasar dan Pembangunan) Kementerian Kerja Raya, Dato’ Zahrul Hakim Abdullah, Ketua Pengarah Lembaga Lebuhraya Malaysia, Dato’ Ir. Mohd Shuhaimi Hassan; Presiden/Ketua Pegawai Eksekutif TNB, Dato’ Indera Ir. Baharin Din, Ahli Lembaga Pengarah PLUS dan Pengarah Urusan Kumpulan UEM, Dato’ Mohd Izani Ghani, Ketua Pegawai Operasi PLUS Datuk Zakaria Ahmad Zabidi serta Ketua Pegawai Strategi dan Usaha Niaga (Chief Strategy & Ventures Officer) TNB, Datuk Ir. Megat Jalaluddin Megat Hassan.
Tenaga Nasional Berhad (TNB) telah memulakan operasi kemudahan pengecas yang dinamakan TNB Electron di sepanjang lebuh raya PLUS, dengan tujuan untuk membantu mengatasi kebimbangan pengguna EV apabila melalui Lebuhraya Utara-Selatan (NSE) & Lebuhraya Pantai Timur.
TNB Electron R&R Tapah (Arah Utara)(2x90kw) mula beroperasi pada 15 Februari 2023, manakala dua lagi pengecas projek perintis iaitu R&R Ayer Keroh (Arah Utara) & R&R Paka (Arah Utara) (2x90kw) mula beroperasi 20 Januari 2023.
Tenaga Nasional Berhad (TNB) telah memulakan operasi kemudahan pengecas yang dinamakan TNB Electron di sepanjang lebuh raya PLUS bermula 20 Januari 2023, dengan tujuan untuk mengatasi kebimbangan pengguna EV apabila melalui Lebuhraya Utara-Selatan (NSE) & Lebuhraya Pantai Timur.
Tiga pengecas projek perintis pertama terletak di R&R Ayer Keroh (Arah Utara) (2x90kw), R&R Paka (arah Utara) (2x90kw) dan R&R Tapah (arah Utara) (2x90kW).
UEM EDGENTA EXPANDS ITS SUSTAINABLE HEALTHCARE SOLUTIONS TO THE GLOBAL MARKET
KUALA LUMPUR, 3 February – UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), the region’s leading Asset Management and Infrastructure Solutions company, through Edgenta Healthcare Support, has entered into three Memorandum of Business Exploration (“MOBE”) partnerships with WAS, First Ambulance Services and Optima Technic, to strengthen its position in the international healthcare business.
UEM Edgenta's Healthcare Support division is a market leader in non-clinical healthcare support services in Southeast Asia, providing services to over 300 hospitals in Malaysia, Singapore, Taiwan, and India.
WAS is a German based company and one of the world’s leading manufacturers for special vehicle and ambulance with over 20 years of experience. Taking advantage of the technological advances and innovative concepts for ambulances and patient transport vehicles, WAS provides emergency services with a safer, more efficient, and enhanced user-friendly emergency vehicles with a goal to strengthen emergency services offered, making it more sustainable for the future.
First Ambulance Services (“FAS”) is a Malaysian private ambulance outfit, providing integrated, high quality, pre-hospital emergency and medical care, patient transport, and medical retrieval services to the Malaysian community, offering fully integrated turnkey solutions for hospital-based ambulance services. With operations in the main medical hubs in the country, FAS is dedicated to provide better support to the community through smart ambulances.
“UEM Edgenta, in its business exploration with WAS and First Ambulance, will provide solutions to uplift healthcare services in the country, and other regions simultaneously. We hope to elevate the country’s healthcare system to be at par with global standards. Our combined expertise in healthcare services, digital healthcare, and asset management technology, will enable us to enhance our healthcare system and improve patient journey, in support of Malaysia’s Ministry of Health’s (“MoH”) vision, as well as in other regions, mainly Middle East, Asia, and other countries globally. As part of our commitment in delivering Environmental, Social and Governance (“ESG”) initiatives, we are also exploring EV Ambulance, in line with the launch of Vision 2030 by his royal highness Prince Mohammed bin Salman, Crown Prince with the Kingdom of Saudi Arabia’s (“KSA”) commitment towards reducing carbon emissions for the nation. This is a step forward in UEM Edgenta’s continuous aspiration to provide integrated and high-quality emergency medical services, towards a better patient-centric care ecosystem”, said Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta.
Optima Electro Hydraulic Ltd. Co. (“Optima Technic”) is a Turkey based company that provides various economical mobile solutions through its services in furnishing mobile hospital solutions, mobile military solutions, designing and manufacturing of mobile engineering solutions, as well as, mobile commercial solutions tailored to each customers’ requirements.
“Through our partnership with Optima Technic, UEM Edgenta will be able to provide better access to safer and fast-built facilities, and this is in line with our capability in healthcare infrastructure upgrade, especially in rural and remote areas where the communities lack basic access to essential health”, added Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta.
The MOBE partnership agreements were sealed during the Arab Health 2023 exhibition at the Dubai World Trade Centre. Present during the signing ceremony was Syahrunizam Samsudin, Rais Imran, Chief Strategy Officer of UEM Edgenta, Hillary Chua, Chief Financial Officer of UEM Edgenta, Shaiful Subhan, Managing Director of Edgenta Mediserve, Derrick Wong, General Manager of Operon Middle East, together with Andreas Plöger, Managing Director/Chief Strategy Officer of WAS, Steven Penafort, Managing Director of First Ambulance Services, Ismail Tamer, Chief Executive Officer of Optima Technic, as well as the senior management team from UEM Edgenta, WAS, First Ambulance Services and Optima Technic.
On hand to observe the agreement was by Yang Berbahagia Tuan Fadly Amri, Consul General of Malaysia to the United Arab Emirates, Asrul Ab Rahim, Khazanah representative, Abdul Mukti, Director of MIDA, Dubai and Megat Iskandar, Trade Commissioner of MATRADE.