Acquisition of Shares in Dayang Enterprise Group by Naim Cendera Holdings Bhd

Naim Cendera Holdings Bhd (Naim) has acquired a 45 per cent interest in Dayang Enterprise Group, a Miri-based integrated service provider for the oil and gas industry.

With the acquisition, Naim is set to diversify into an industry in which Dayang Enterprise has vast experience, synergizing its civil engineering and project management expertise with Dayang Enterprise’s oil and gas knowledge.

Chief Minister Pehin Sri Abdul Taib Mahmud, who witnessed the signing-ceremony for the RM87.75 million deal yesterday, hoped more companies would take part in smart-partnerships, in order to leverage on each party’s strengths and advantages.

“But before getting into such a ‘marriage’, make sure that the parties involved are both hardworking,” he said during the ceremony held at a hotel here.

Taib explained that more opportunities would be created when companies cooperated with each other, and hoped that Naim and Dayang Enterprise’s smart-partnership be emulated by other companies in the state.

He also called on local entrepreneurs to grab the opportunities offered by the oil and gas industry, especially in the area of maintenance.

Earlier, Naim chairman datuk Abdul Hamed Sepawi pointed out that the share acquisition marked a new chapter in the property developer’s history, namely its foray into the oil and gas industry.

He said Dayang Enterprise’s vast experience in the industry gave a lot of confidence to Naim, and that this confidence was further boosted by the caliber of Dayang Enterprise’s board of directors.

Meanwhile, Dayang Enterprise’s executive director James Ling, who also spoke at the event, noted that even though the two companies were from different industries, there were more similarities than differences between them.

“I believe we can work together…in the pursuit of better business opportunities and more enhancements in both our companies, through this partnership.

“Like in any other relationship, the partnership in a business is no different (as) we will need to nurture it and (let it) grow until it blossoms,” he said.

Naim managing director Datuk Hasmi Hasnan signed the acquisition agreements on behalf of the company, while Ling represented Dayang Enterprise.

Also present was Naim’s Chairman, Datuk Abdul Hamed Sepawi, Dayang Enterprise Sdn Bhd managing director Tengku Yusof Tengku Ahmad Shahruddin and Naim’s deputy managing director Sharifuddin Abdullah Wahab.