• Malaysia stock market and companies daily report (September 03, 2015)

    - Scomi Engineering is eyeing a bigger slice of the rail industry pie locally and regionally, following the inking of a collaboration agreement (CA) with Czechoslovakia-based transport and engineering company Skoda Transportation.

    - The CA will enable the firm to provide new product offerings to complement its existing suite of transport solutions, as well as give it the exclusive rights to use, market, distribute and resell components, products and services of Skoda Electric in the Brazilian and ASEAN markets.

    - According to the group, it would be difficult for it to venture alone into the foreign markets for rail construction, thus having a partner with a good track record like Skoda will aid in its foray overseas.

    Significance: Following the CA, Scomi Engineering is targeting for a tender book of between RM5 billion and RM8 billion. Apart from overseas projects, the firm is also eyeing jobs locally, namely, the LRT3 and MRT2 lines.

    Contributed by Shares Investment
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