Jentayu-Sumitomo deal boon for Sabah
Published on: Saturday, July 22, 2023
The MOU, signed at Sumitomo Corporation’s headquarters in Tokyo, represents a significant step towards solidifying a potential partnership aimed at unlocking numerous potential joint developments, investments and operational opportunities.
TOKYO: Jentayu Sustainables Berhad (JSB) announces the signing of a Memorandum of Understanding (MOU) with Sumitomo Corporation, a globally renowned entity operating in diverse industries.
The MOU, signed at Sumitomo Corporation’s headquarters in Tokyo, represents a significant step towards solidifying a potential partnership aimed at unlocking numerous potential joint developments, investments and operational opportunities.
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This concerted effort is anticipated to drive significant progression in JSB’s renewable energy projects.
In addition, this collaboration holds the promise to contribute towards elevating energy trilemma, particularly in Sabah, setting a progressive, socially responsible benchmark.
Fuelled by a shared vision to catalyse positive change, combat climate change, and uplift communities, this potential collaboration heralds a promising new chapter for JSB.
Datuk Haji Beroz Nikmal Mirdin, Executive Chairman of Jentayu Sustainables Berhad, said:
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“It is a privilege to collaborate with an esteemed organisation like Sumitomo Corporation, which boasts a rich heritage of over 400 years. Their interest in collaborating with us reflects a shared ambition of propelling the partnership into a formidable force in the regional renewable energy landscape.
“We are particularly cognisant of the immense learning potential this brings, providing us an opportunity to assimilate Sumitomo Corporation’s respected corporate values and culture.
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“This synergy is expected to enhance our capabilities and expedite the expansion of JSB in both local and regional markets.”
The MOU articulates several strategic areas of potential collaborations: the joint venture and capital allocation into JSB’s present and potential renewable power plant projects; cooperative management of related projects; and shared investment and development of upcoming renewable energy initiatives.
Tapping on Sumitomo Corporation’s extensive global experience and JSB’s in-depth local knowledge, this framework signifies a mutual commitment to leverage both parties’ strengths to optimise project success rates and fine-tune operational efficiency, with the end goal of establishing a sturdy, resilient renewable energy ecosystem in Malaysia and the region.
The synergy between JSB and Sumitomo Corporation marks a significant milestone in JSB’s pursuit of a greener and more sustainable future; both JSB and Sumitomo Corporation remain steadfastly committed to conducting meticulous due diligence to ensure all proposed projects align with the highest standards of environmental sustainability, economic viability and social benefit.
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