KUALA LUMPUR (Aug 6): Engineering services group AWC Bhd said it is exploring opportunities to market new energy heavy trucks and construction machinery in Malaysia together with two China-based partners.
To explore the business, AWC said it has inked a memorandum of understanding with Beijing Energy Envision Linking Smart (Beijing) Technology Co Ltd Southwest Branch (BEELS) and Zhizhi Automotive Technology Co Ltd (ZATC).
BEELS, according to AWC, will oversee domestic used car procurement and service provider management within the collaboration. ZATC, separately, will provide technical support and oversee construction activities in Malaysia and other Southeast Asian countries.
The two partners are seeking to establish Malaysia as a distribution hub, while AWC is entering the collaboration to expand its green business, it said.
“Whilst AWC is already at the forefront of advancing ESG-related activities with our world-renowned STREAM Automated Waste Collection System (AWCS), this new collaboration with BEELS and ZATC brings a new dimension to our group,” said Datuk Ahmad Kabeer in a statement.
“New energy vehicles have already revolutionised the passenger vehicle market, and we anticipate a similar transformation in the commercial vehicle space,” he added.
Separately, AWC said it has secured a RM10.2 million contract for the provision of cold water and sanitary plumbing systems, rainwater downpipe services and other sanitary fittings for a serviced apartment in Batu Caves. The contract was secured by its subsidiary Qudotech Sdn Bhd.
Shares of AWC closed up two sen or 1.8% at RM1.13, giving it a market capitalisation of RM369.44 million. The counter is still up 76.56% this year.
