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.
From Bernama:
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 one of the main thrust of the policy is to sell real estate (bold), I am afraid we are planning to fail.
— Malaysian Defence
Should be renamed National Rent Seeking Policy
With such a puny budget and very low priority purchases, we still have wet dreams of having a defence industry.
With top 2 commander just for this corporation sign ceremony. I feel is “lebih”, unless their next destination is Kuwait talk about “Bugs” purchase.
@ hasnan
Like your comment!
Hasnan – ”With such a puny budget and very low priority purchases ”
With no economics of scale; no continuity; the lack of a holistic defence policy and the lack of a clear realistic appraisal of what we intended to achieve and what we can actually achieve.
This guy sheikh mansour was the guy in the revealed telephone conversation between a former PM & the infamous “arab donations” scheme. I don’t care to trust either of them. LTAT,BHIC,BNS same old same old.
Qamarul,
The question you should ask yourself is if you can trust the politicians and bureaucrats? “LTAT,BHIC,BNS” answer to the politicians and work under policies set by the politicians. The bureaucrats implement and oversee the policies set by the politicians.
We set up a factory in coperation with an Austrian arms manufacturer to make Styr rifles for our arm forces and the Asean countries. Spent RM500 millions.
Hari ini habokpun tadak. Not one proposal these fellows spent billions on, were ever successful. Dont trust, just going to waste money.
LTAT n its group should just concentrate like EPF on 8nvestment n not pie in tge sky defence projects. Only Deftech has succeeded in assembling the vehicles for our armed forces. All pur ship n small arm projects went kaput. So no more such projects