SHAH ALAM: The Armed Forces Provident Fund (LTAT) has signed an MOU with UAE-state owned arms conglomerate, the Edge Group, for possible collaboration in defence capabilities and solutions.
KUALA LUMPUR: The armed forces pension fund (LTAT) today signed a memorandum of understanding (MoU) with the EDGE Group, a conglomerate of 25 companies owned by the United Arab Emirates (UAE) government that provides military weaponry and related technology.
Defence minister Hishammuddin Hussein said the MoU was signed by LTAT CEO Ahmad Nazim Abd Rahman and the EDGE Group managing director and CEO Mansour Mohamed Al Mulla.
The MoU covers the exploration of opportunities for closer collaboration between LTAT and the EDGE Group in supporting various forms of defence capabilities and solutions as well as identifying potential joint investments in the strategic and defence industries in Malaysia.
“Representing the Malaysian government, I am proud and amazed to see the determination of the UAE government to develop its defence industry to a very encouraging level.
“The signing of the MoU has made my official visit to the UAE very meaningful due to the strong commitment of the Malaysian-UAE governments to empower the Malaysian defence industry,” he said in a statement today.
However, there is no explaination on how the LTAT will do this of course. It is likely though LTAT’s subsidiaries like Boustead Heavy Industries Corporation (BHIC) will be involved if the MOU goes further forward. As you are aware an MOU is non-binding so it might just another gimmick to justify the visit to the UAE.
It must be noted that some of the companies with the Edge Group like Nimr (armoured vehicle builder) and Caracal (small arms manufacturer) had taken part in defence exhibition in Malaysia previously. Hishammuddin also revealed one of the main thrusts of the upcoming the national defence and security industry plan.
Hishammuddin said it was important and in line with the Malaysian government’s plans considering that the national defence and security industry policy was a follow-up initiative to the defence white paper, which is currently being drafted.
Hishammuddin said one of the main thrusts of the policy is to create a defence industrial zone with the same concept as the Tawazun Industrial Park, which is an industrial zone established to help further develop the UAE’s industrial capabilities, especially in providing a manufacturing base for defence-related products and industries.
If you like this post, buy me an espresso. Paypal Payment
If one of the main thrust of the policy is to sell real estate (bold), I am afraid we are planning to fail.
— Malaysian Defence