Terengganu Incorporated Sdn Bhd (Terengganu Inc) serves as the strategic investment arm of the state government of Terengganu, Malaysia. Established to drive sustainable economic growth and development in the state, Terengganu Inc oversees the management of state-owned assets, investments, and resources, aligning them with the government’s vision of prosperity and long-term progress.
As a holding company, Terengganu Inc’s primary role is to manage and optimize the state's wealth, ensuring that its businesses and investments deliver value not only to the state but also to the people of Terengganu. Its operations span diverse industries, including energy, agriculture, tourism, real estate, and services, contributing significantly to the state’s economic resilience and job creation.
Vision and Mission
Terengganu Inc’s vision is to be a world-class investment entity that drives sustainable value creation. Its mission focuses on:
- Maximizing the value of state-owned assets.
- Promoting industrial diversification to reduce reliance on natural resources.
- Enhancing the socio-economic wellbeing of Terengganu’s communities.
- Supporting the state government’s strategic initiatives for development.
Key Investments and Contributions
The company’s diversified portfolio reflects its commitment to economic diversification and sustainability. Terengganu Inc invests in strategic sectors that drive long-term growth while ensuring responsible stewardship of resources. Notable areas of involvement include:
- Oil and Gas: Leveraging the state’s rich natural resources while prioritizing sustainable practices.
- Tourism and Hospitality: Enhancing Terengganu’s reputation as a top-tier destination by supporting eco-tourism and cultural heritage projects.
- Agriculture and Fisheries: Strengthening food security and local economic empowerment through investments in agriculture and aquaculture.
KUALA TERENGGANU: Terengganu Incorporated Sdn Bhd (Terengganu Inc), the strategic investment arm of the Terengganu state government, has signed two Memoranda of Understanding (MOUs) with MB Holding LLC, a multinational corporation from Oman, to explore industrial collaborations in the state.
Strengthening Ties Across Key Sectors
The MOUs, signed in Muscat, Oman, aim to leverage the strengths of both parties in sectors such as energy, healthcare, tourism, manufacturing, and sustainable development. MB Holding operates in over 20 countries and has significant expertise in oil and gas, marine engineering, mining, and real estate.
Key Agreements
- Upstream Oil and Gas Collaboration
The first MOU was signed between Terengganu Inc and MB Holding’s subsidiary, Petrogas E&P Oman, through its Malaysian arm, Petrogas Sisma Energy. This partnership will focus on opportunities in the upstream oil and gas sector in Terengganu. - Petrogas E&P Oman, which manages Late Life Assets (LLA) in Europe, the Middle East, and Africa with a production capacity of 100,000 barrels per day, is expected to bring valuable expertise to this collaboration.
- Expanding Sectoral Exploration
The second MOU, signed by Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and MB Holding Chairman Dr Mohamed Al Barwani, aims to broaden cooperation in key industries, including energy, power generation, and other upstream industries, for mutual benefit.
Mutual Commitment
Dr Ahmad Samsuri stated that both parties are committed to efficiently implementing commercial developments that will benefit Terengganu’s economy and beyond. “This partnership underscores our commitment to advancing industrial capabilities and creating long-term, mutually beneficial relationships,” he said.
Prominent Leaders in Attendance
The signing ceremony was attended by Terengganu Inc President and CEO Burhanuddin Hilmi Mohamed@Harun, along with Petrogas Sisma CEO Dr Jamal Yusof.
This collaboration marks a significant step forward in fostering international partnerships, driving innovation, and unlocking economic opportunities in Terengganu and Malaysia.
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