Naza has signed an MoU (Memorandum of Understanding) with GE or General Electric where they will be looking at more ways of collaboration in Malaysia. Basically, it will involve 3 main areas which Naza and GE can work on and for further development which will look and expand its business in the areas of EV (Electric Vehicle). The other sector which they will be working on are in the implementation of sustainable property development as well as looking for opportunities in healthcare services.
Dean said that the signing is a positive towards the right direction where he said that strong synergies will be expected to come out of this. On top of that, it would also be an important factor which will be very good under the ETP (Economic Transformation Plan). He said that there are many parallels which the company could get out of this and that they would be able to work towards more business opportunities with Naza. In terms of healthcare, Naza will be utilizing the GE Healthcare technology to help them with their planned entry into the healthcare services sector, so this move will be quite a favourable one to them.
Zakaria Ismail, the director of Group Affairs for Naza Group signed the MoU on behalf of the automotive and property conglomerate while GE was represented by the CEO of GE Asean, Mr Stuart Dean. The signing ceremony took place last Friday where among those who were also present are Hamid Ismail, Naza Group’s Director of Special Project and John G Rice who is the vice chairman of GE as well as the president/CEO of GE Global Growth and Operations.
So far, they have yet to confirm how the automotive businesses will benefit from this MoU but one thing for sure, it would be in the development of parts for EVs which will involve infrastructure and technology applications. It will also most likely be in the technology transfer of the GE battery technologies which Naza could surely capitalize on. Where this is concerned, it will be useful especially in the electric vehicle’s manufacturing line for Naza and the GE technology could also be used in the pilot tests for its electric vehicles too.
