Pasdec and Perundingan ZNA forms JV company

KUALA LUMPUR: Pasdec Holdings Bhd has formed a 51:49 joint venture company with Perundingan ZNA (M) Sdn Bhd to provide value engineering design services.

The JV company, dubbed Pasdec Engineering Sdn Bhd, will mainly be in the business of providing value engineering design services for infrastructure, building foundation and superstructure of Pasdec’s subsidiaries and associate companies' development projects.

In a filing to Bursa Malaysia on March 4, Pasdec said the JV company has an authorized share capital of RM1 million comprising one million shares of RM1 each and an issued share capital of RM2 comprising 2 shares of RM1 each.

The joint venture will allow both parties to work together and leverage on the strengths of both parties, said Pasdec. Pasdec shall source for development projects while Perundingan ZNA will provide its technical expertise to optimize construction cost.

The principal activities of Pasdec are investment holding and provision of management services while the principal activities of its subsidiaries include property development, project management, civil and building construction, trading of building materials, manufacturing of bricks and management of resorts and buildings.

Meanwhile, the principal activity of Perundingan ZNA is the provision of engineering services with focus on the provision of cost-effective solutions in the fields of civil, structural, geotechnical and highway engineering.