KUALA LUMPUR (Jan 10): AWC Bhd has inked a memorandum of understanding (MOU) with two Indonesian firms on Monday (Jan 9) to explore different sectors in Indonesia and Malaysia. 

In its bourse filing on Tuesday (Jan 10), AWC said the two Indonesian firms — PT Gema Karya Manunggal and PT Prasarana Danoes Cemerlang — will collaborate with AWC to jointly explore opportunities in the oil & gas business, as well as airport and port infrastructure in Malaysia and Indonesia. 

Other areas include safety, water treatment, waste treatment, municipal waste treatment and environmental maintenance sectors. 

“This MOU shall come into force from the date of signature and is valid for 12 months, unless terminated by the parties,” said AWC. 

The MOU will not have any effect on the share capital and substantial shareholders’ shareholdings of AWC. 

“The MOU is not expected to have any material immediate effect on the earnings per share, net assets per share and gearing of AWC for the financial year ending June 30, 2023.” 

Earlier on Monday, AWC announced an MOU with PT Bintang Timur Investama to jointly explore investment opportunities in renewable and green energy in Malaysia, according to the group’s filing. 

The group’s share price closed unchanged at 49 sen on Tuesday. Its market capitalisation was RM156.37 million.