Terengganu state-owned company Eastern Pacific Industrial Corporation Bhd (EPIC) has signed a Letter of Intent (LoI) with Qaswa Holdings to explore opportunities within Brunei’s maritime cluster, focusing on its pioneering marine maintenance and decommissioning yard (MMDY).
The agreement pave the way for EPIC acquire shares and support the operations of Adinin Group’s Qaswa, who are the lead local partner in Anson International, operator of Brunei’s first MMDY on Pulau Muara Besar (PMB), scheduled to be operational by 2026.
EPIC’s involvement represents another foreign direct investment (FDI) in the MMDY project, joining Anson’s technical partners—South Korea’s Dongil Shipyard for marine maintenance and the UK’s CessCon Decom for decommissioning.
“This potential partnership represents a significant chapter for EPIC as we expand our international footprint and expertise. I am confident the LoI will unlock substantial opportunities beyond potential shared acquisitions, enabling valuable exchanges of expertise to elevate our capabilities and broaden our offerings in major infrastructure projects,” said EPIC Group CEO Hj Muhtar Suhaili.
The EPIC group brings extensive maritime experience as operators of the Kemaman Supply Base—the largest oil and gas supply facility of its kind in Peninsular Malaysia—as well as Kemaman Port and the Kuala Terengganu Support Base.
“This confirms that Malaysia views Brunei as a viable investment destination,” said Qaswa Chairman Hj Musa Adnin. “Leveraging its expertise and established track record, this strategic alliance is expected to bring substantial benefits to Qaswa while contributing to Brunei’s economic development.”
Anson’s 16-hectare site on Pulau Muara Besar aims to provide marine maintenance and decommissioning services that were previously sourced overseas. Businesses operating in or visiting Brunei can now access these services locally, which include marine maintenance, repair and overhaul, and decommissioning within the oil and gas sector.
EPIC added that the LoI aligns with their development of a green ship recycling facility at Kemaman Port, which will also function as an onshore disposal yard or decommissioning remediation facility—the first dual-purpose facility of its kind in Malaysia.
Brunei’s Ministry of Finance and Economy, through its Strategic Development Capital Fund, is also a partner in Anson’s consortium.
