UEM Edgenta explores Saudi Arabia market, inks Memorandum of Business Exploration

UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), South East Asia’s leading Asset Management and Infrastructure Solutions company has entered into a Memorandum of Business Exploration (“MoBE”) with Asma Advanced Solutions LLC (“Asma Advanced”) to identify strategies to capture healthcare support services and integrated facility management markets in Saudi Arabia.

Asma Advanced is jointly-owned by Progressive Impact Corporation Berhad (“PICORP”) and a Saudi Closed Joint Stock Company, Trade House Group Company (“THG”).

The MoBE will pave the way for future collaborations to explore and identify potential opportunities with a view to commercially craft viable business ventures in Saudi Arabia. Present during the signing today was Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta and Sheikh Abdulwahab bin Nasser Al-Akeel, Chairman of Asma Advanced. The ceremony was witnessed by YB Dato’ Seri Mohamed Azmin Bin Ali, Senior Minister of International Trade & Industry Malaysia (“MITI”).

Through the strategic partnership, the two parties will conduct joint discussions over the next eight months and leverage on the strengths of all parties to explore business opportunities.

“This marks more opportunities for us to further diversify our revenue stream as we explore new markets in Saudi Arabia. We are excited with the prospects as we gear up towards post-pandemic recovery through our deep and varied Healthcare Support experiences. We are confident our partnership with Asma Advanced will propel further growth in our regional expansion strategy as we move towards realising our vision ‘Edgenta of the Future 2025’,” said Syahrunizam after the ceremony.

“We aspire to be the provider of choice especially in the realm of health and environmental solutions. With the partnership with UEM Edgenta, we are honoured to be collaborating with an experienced Healthcare Support services provider as we introduce innovative solutions to the Saudi Arabian markets,” commented Sheikh Abdul Wahab.

“The MOBE will outline the collaboration where both parties shall be working closely, including engaging relevant stakeholders and understanding regulations and specific market requirements. It will also identify potential opportunities where UEM Edgenta can demonstrate and offer its solutions and capabilities with a view of establishing a commercial structure should the opportunity arise before the end of December 2021.” 

This content is provided by Neruda Communications.

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