Friday, 28 March 2014

MATRADE Drives Collaborations in OTC Asia

Malaysia External Trade Development Corporation (MATRADE) drives Malaysian oil & gas companies in forming joint ventures or collaborations with foreign companies during their participation in trade fairs or trade missions. In conjunction with Offshore Technology Conference (OTC) Asia 2014, MATRADE further improved their business platforms by supporting 25 Malaysian oil & gas exhibitors as well as organising the Individual Business Meetings (IBM) on the 25 and 26 March 2014.

MATRADE through its international network has invited 25 oil & gas foreign companies to come and meet with the Malaysian oil & gas companies in Kuala Lumpur.

During MATRADE’s participation at OTC Asia 2014, two Malaysian oil & gas companies had signed a memorandum of understanding (MoU) with Japan and UK based companies. The first memorandum was signed between Tekno Logam, Japan Matex Co. Ltd and Neuron Japan Co. Ltd. The three companies had form a joint venture company known as Neutex Advance Engineering Sdn Bhd producing metal expansion joints, gland packing and servicing valve, compressor and pumps. This partnership of producing metal expansion joints is the first ever in Malaysia.

The second MoU was signed between Oilfield Technical Inspection (OTI) and Sky Futures providing Unmanned Aerial Vehicle (UAV) services throughout South East Asia. This arrangement will increase OTI’s inspection capabilities and allow both companies to offer their clients extended geographical coverage for their flare stack inspection requirements. Both companies recognized that this agreement will bring significant trading benefits to each other whilst enhancing their respective sales capabilities.

According to MATRADE, this collaborative partnership between Malaysian companies and foreign companies reflects the capabilities and quality of Malaysian products and services.

In addition, MATRADE emphasised that the participation in OTC and IBM programme is an important platform to further promote Malaysian companies and a great pillar for the Malaysia’s Economic Transformation Programme in the oil & gas sector.