Propel Global Announces Collaboration With CSCEC

Propel Global Strengthening Growth in Key Infrastructure Sectors

KUALA LUMPUR, 26 SEPTEMBER 2024 – PROPEL GLOBAL BERHAD ("Propel Global" or the "Group”), a provider of oil and gas (“O&G”) services, today announced the signing of a Memorandum of Understanding (“MOU”) with CSCEC The Third Construction Engineering Company Ltd. of China Construction Second Engineering Bureau (“CSCEC”).

The MOU with CSCEC marks a significant step in Propel Global’s strategic initiative to expand its footprint into large-scale infrastructure projects in Malaysia. Under the MOU, Propel Global and CSCEC will explore potential collaborations in the construction of critical infrastructure, including data centres, telecommunication towers, hospitals, water treatment plants, and various other commercial, residential, industrial, and infrastructure projects. CSCEC, being a global leader in construction and development with operations in over 100 countries, brings a wealth of experience in large-scale construction projects.

Propel Global and CSCEC aims to partner on shared common expertise in engineering, construction technologies and execution of related projects. Together, both companies will combine its skills, resources, and intellectual property to meet the increasing demand for infrastructure development in Malaysia, positioning the Group as a key player in this growing market.

Ms. Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global said, “Thia MOU underline our commitment to expanding our footprint in the infrastructure sectors. Our collaboration with CSCEC opens exciting opportunities for Propel Global to participate in significant infrastructure projects. Propel Global is well-positioned to continue driving sustainable growth and enhancing value for our stakeholders.”

Propel Global’s focus on expanding its capabilities and strong financial position sets the Group for long-term growth. Looking ahead, the Group is well-placed to capitalise on opportunities in Malaysia’s oil and gas sector, particularly through increased upstream activities and potential spillover effects from engineering, procurement, construction, and commissioning (“EPCC”) projects, as well as the construction sector while continuing to deliver value to shareholders.