Dayang Enterprise Holdings Bhd has entered into a joint-venture (JV) and shareholders’ agreement through its wholly owned subsidiary, Dayang Enterprise Sdn Bhd (DESB), with Brunei-based Petrokon Utama Sdn Bhd for a proposed project collaboration in Brunei.
In a filing with Bursa Malaysia, the group said the JV aims to strengthen its strategic presence in Brunei and enhance its participation in maintenance, turnaround and construction (MTC) activities through collaboration with an established local partner.
It added that the partnership is expected to complement Dayang’s existing technical capabilities while supporting its long-term growth strategy in the regional oil and gas sector.
Under the agreement, DESB and Petrokon Utama will establish a joint-venture company in Brunei, to be named Petrokon Dayang Corporation Sdn Bhd, or another name approved by the relevant authorities.
Both parties will hold an equal stake of 50% each in the JV company, which will have an initial paid-up capital of BND100,000.
DESB will be entitled to appoint up to two directors to the board of the JV company, with one of its nominees expected to serve as chairman.
The JV agreement will come into effect upon fulfilment of conditions precedent, including the incorporation of the JV company and the award of the relevant project in Brunei.
Dayang said the collaboration is not expected to have any material impact on its issued share capital, earnings, net assets, or gearing for the financial year ending Dec 31, 2026.
