Malaysian Duo Join Forces to Provide Repair Services

Image Courtesy: Malaysia Marine and Heavy Engineering Holdings Berhad (MHB)

Two Malaysian firms have joined forces to form a joint venture company in an effort to provide repair services of marine vessels which include dry docking repair, refit, refurbishment, maintenance and technical solutions at the ship repair facilities located in Kemaman, Terengganu.

Namely, the country’s shipbuilding and heavy engineering industries firm Malaysia Marine and Heavy Engineering (MMHE), a subsidiary of Malaysia Marine and Heavy Engineering Holdings Berhad, and service and facility provider for the oil and gas industry Eastern Pacific Industrial Corporation (EPIC) have executed a joint venture agreement to establish MMHE EPIC Marine & Services.

MMHE said that it is the majority shareholder with 70% shares, while EPIC holds 30% of the shares in the JV company.

The parties earlier bought a floating dock from South Korea’s Yeisu Ocean, which would support the operation of the newly-formed company. The 5,000 tonne floating dock was delivered to Kemaman on July 30, 2016.

The announcement comes on the back of the recently introduced tax incentives for the Malaysian shipbuilding and ship repairing industry as the country aims to attract further investments in these sectors.

Malaysia said that the incentives would provide new companies with either a Pioneer Status with 70% of Income Tax Exemption on statutory income for a period of 5 years or Investment Tax Allowance of 60% on the qualifying capital expenditure incurred within 5 years from the date the first qualifying capital expenditure is incurred.

Furthermore, existing shipbuilding and ship repairing companies are offered an Investment Tax Allowance of 60% on the additional qualifying capital expenditure incurred within a period of 5 years.

Share this article

Follow World Maritime News

In Depth>


<< Aug 2017 >>
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Shipping2030 Asia

This year Shipping2030 Asia will take place with Global Liner Shipping conference, offering attendees unique access to networking with the container shipping industry…

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >


Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >