ENRA, EMRAIL FORM JOINT VENTURE
Tuesday, 6 June 2017.
PETALING JAYA: ENRA Group Bhd is collaborating with Emrail Sdn Bhd to provide total engineering solutions and services, civil works, rolling stock, project and asset management and maintenance services for rail and track transportation projects in Malaysia.
In a filing with Bursa Malaysia yesterday, the group said its wholly owned subsidiary ENRA Engineering & Construction Sdn Bhd (EEC) entered into a shareholders agreement with Emrail Sdn Bhd to jointly establish a company for the purpose of the collaboration.
The group said the joint venture (JV) is in line with its plans to explore new business with growth potential.
“The intended activities of the JV company, if and when undertaken, are expected to contribute positively to the profitability and growth of the company in the future,” it said.
The JV company will have an initial issued and paid-up share capital of RM100 comprising 100 ordinary shares, with EEC holding 51% equity stake and Emrail holding the remaining 49% equity stake.
EEC expects to internally generate its initial investment in the JV company.
The JV company will have at least five directors, three of whom will be nominated by EEC and two nominated by Emrail.
Emrail is a full-fledged railway engineering company providing total railway engineering solutions and services for track works, signals and systems, civil works, rolling stock, project management, asset management and railway maintenance works.
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