JOHOR BAHRU, September 15– Damansara Realty Berhad and The Sumitomo Warehouse Co., Ltd, put pen-to-paper on Tuesday, inking a Memorandum Of Understanding (MOU) to set up a Joint Venture (JV) Company to facilitate the downstream oil and gas services located in Pengarang Integrated Petroleum Complex (PIPC). The JV company will provide logistics expertise, as well as Design, Build and Operate (DBO) warehousing infrastructure support to the myriad of downstream operations within PIPC.
Established since 1960, Damansara Realty Berhad has ventured into various types of businesses including hospital consultancy, facilities management, parking business and industrial cleaning. The group aims to seek opportunities to invest in other type of businesses, namely in the Oil and Gas sector. Sumitomo’s market leading legacy with 115 years of experience in the warehousing, sea-land-air transportation services and information system management will definitely provide best-in-class logistics expertise.
Speaking on the JV agreement, Tuan Hj. Mohd Fazlin Shah Bin Mohd Salleh, Group Chief Executive Officer, Damansara Realty, said, “While Damansara Realty has a rich heritage in the property services division, we also have a proven track-record in the area of facilities management, green technology initiatives and servicing the Oil and Gas sector. Our experience in this project and intimate understanding of the industry and the local business landscape sees us poised to deliver service excellence to our clients.”