Straits Energy Resources Berhad announced that its indirect 70%-owned subsidiary, Straits CommNet Solutions Sdn Bhd (SCS), signed a Memorandum of Understanding on 20 August 2025 with Horizon Shipyard Inter Globe (M) Sdn Bhd (Horizon), an indirect 20%-owned associate company of Straits.
The MOU sets out the parties’ intention to explore and negotiate potential collaboration on the design, development, and deployment of a Smart Shipyard at Horizon’s facilities.
The proposal covers solar power integration, AI security surveillance, enterprise resource planning, customer relationship management, as well as advanced drone and AI monitoring systems.
Under the MOU, SCS will conduct feasibility studies, design a Smart Shipyard solution, oversee technology deployment, provide staff training, and ensure compliance with industry standards.
Horizon will provide operational data, site access, internal resources, and collaborate in testing the systems. The MOU is valid for 12 months unless terminated earlier or replaced by definitive agreements.
The agreement does not create financial obligations between the parties, and each will bear its own costs. Straits said the MOU will not affect its share capital, shareholders’ holdings, or net assets, with financial effects to be determined only after any definitive agreements.
Straits Energy Resources Berhad is a public company incorporated in Malaysia and listed on Bursa Malaysia Securities Berhad. It operates through subsidiaries and associate companies in energy-related businesses, including marine fuels and technology services.
Straits CommNet Solutions Sdn Bhd is a private limited company incorporated in Malaysia in November 2021. It is principally engaged in telecommunication product development and network services, including construction and infrastructure works. It is indirectly held by Straits Energy Resources Berhad through Straits Technology Solutions Sdn Bhd.
Horizon Shipyard Inter Globe (M) Sdn Bhd is a private limited company incorporated in Malaysia in May 2023. It operates as a shipyard, with business activities including shipbuilding, vessel repair, and maritime services. Its shareholders include Malaysian and foreign individuals and entities, with indirect ownership links to Straits Energy Resources Berhad through TMD Energy Limited.