Kuok (Singapore) Limited (KSL) and Samsung Heavy Industries Co., Ltd. (SHI) have signed a Strategic Cooperation Agreement (SCA), establishing a framework to explore collaboration across the maritime, offshore, energy infrastructure, logistics and related sectors.
Under the SCA, both parties will leverage their complementary strengths, combining SHI's engineering, technology, and offshore project development expertise with KSL’s maritime, logistics, and infrastructure ecosystem, market access capabilities and regional operating platforms. Together, the parties will evaluate and pursue opportunities across offshore and energy infrastructure, shipbuilding, marine engineering, offshore logistics, and related sectors.
Mr Kuok Khoon Ean, Chairman, Kuok (Singapore) Limited, said: "Today's signing reflects the strong relationship and mutual confidence that have been developed between our organisations. We share a belief that there is significant potential to create greater value through closer collaboration. This agreement provides the platform for us to deepen the partnership, combine our complementary strengths and pursue opportunities that can deliver long-term value for customers, stakeholders and our respective businesses."
Mr Sung-an Choi, Vice Chairman and CEO, Samsung Heavy Industries, said: "Samsung Heavy Industries has a long history of delivering complex shipbuilding and offshore engineering projects worldwide. Through this cooperation, we look forward to exploring opportunities where our engineering and technology capabilities can be combined with the Kuok Group's strong regional presence, maritime ecosystem and execution platforms to support customers and projects across the region."
KSL’s maritime businesses operate under Kuok Maritime Group (KMG), an integrated maritime platform spanning offshore maritime and subsea support services, shipping and transportation, shipbuilding and engineering solutions. Within this ecosystem, PaxOcean provides shipbuilding, conversion, repair, and offshore engineering capabilities to support the evaluation and potential execution of opportunities arising from the collaboration.
This strategic cooperation reflects both parties' commitment to strengthening strategic relationships, enhancing technical collaboration, and exploring long-term opportunities that support the development of the maritime, offshore and energy value chain.
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