MHB Inks a Memorandum of Understanding with Hanwha Power Systems Co., Ltd. to Pursue Newbuilding Projects and Net Zero Agenda, Strengthening Enterprise Business Support
Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), through its wholly owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has signed a Memorandum of Understanding (MoU) with Hanwha Power Systems Co. Ltd. (HPS), a globally renowned company within South Korea’s Hanwha Group. The MoU establishes a long-term collaboration to jointly pursue and develop selective newbuilding1 as well as conversion and retrofit2 projects for existing vessels.
Under the MoU, MHB will serve as HPS’s strategic shipyard partner in the region, providing construction and installation capabilities to deliver integrated and end-to-end solutions; while HPS will, in turn, contribute its Engineering and Procurement expertise to support selective newbuilding, conversion and retrofit projects including areas of mutual strategic value.
The collaboration will leverage the complementary strengths of both parties within the marine industry. MHB is a leading Liquefied Natural Gas Carrier (LNGC) repair yard in Asia, with more than 50 years of experience in offshore and onshore energy construction and a strong track record in delivering a wide range of maritime solutions. Meanwhile, HPS is an established technology provider with over four decades of experience in delivering high-performance turbomachinery and engineered solutions for vessels and offshore applications.
Quote by MD & CEO of MHB
Mohd Nazir Mohd Nor, Managing Director & Chief Executive Officer of MHB said, “We are excited to join forces with HPS, a recognised leader in maritime shipbuilding and innovative green solutions. This partnership reflects MHB’s strategic focus on diversifying its portfolio, maintaining a strong foundation in existing work while selectively pursuing newbuilding opportunities, and will significantly support our customers’ decarbonisation efforts as well as propel the maritime industry toward more sustainable practices. We remain committed to driving innovation and strengthening our position as a market leader in sustainable maritime solutions.”
1 Selective newbuilding refers to a focused approach where a shipyard undertakes specific types of newbuilding projects based on its strategic strengths, capacity, and technical capabilities.
2 Conversion refers to the process of significant alteration and repurposing of a vessel structure, while retrofit projects include the process of updating and improving existing vessels with technologies and practices that enhance energy efficiency, reduce environmental impact, and promote sustainability.
Quote by CEO of HPS
Rafi Balta, Chief Executive Officer of HPS, said, “We are pleased to collaborate with MHB, a well-established and trusted shipyard with strong capabilities in ship repair, conversion, and complex marine engineering. This partnership aligns with our strategy to work with regional leaders that possess proven execution strength and deep operational expertise. By combining HPS’s marine technology and energy-efficient solutions with MHB’s comprehensive EPCIC capabilities and decades of shipyard experience, we aim to deliver high-value solutions and support our customers’ decarbonisation journey while advancing practical and sustainable innovations for the maritime industry, together.”
With the strategic intent of becoming a renowned premium marine yard, this collaboration positions MHB to expand its participation in selective, high-value newbuilding and retrofit projects, catering to vessel owners dedicated to decarbonising their operations and driving sustainable growth.
About MHB
Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) is a globally recognised energy and marine solutions provider, serving a broad spectrum of offshore & onshore facilities and vessels. Strategically located in Pasir Gudang, Johor, Malaysia, MHB operates the largest fabrication yard in the country and one of the largest in Southeast Asia.
With over 50 years of proven industry expertise, MHB continues to evolve its capabilities in offshore energy construction, delivering sustainable, high performance engineering solutions for deepwater facilities, fixed platforms, turrets and various modules for the oil and gas segment.
Backed by a comprehensive track record in fabricating offshore structures, MHB is now at the forefront of new energy segments with the building of offshore carbon capture facility and HVDC for wind farms projects.
MHB is also a leading marine repair and upgrade specialist, renowned for its LNG carrier repair and floater conversion capabilities, including FPSOs and FSOs.
Listed on Bursa Malaysia and a member of the MISC Group, MHB is committed to responsible operations in delivering high standards of safety, quality and efficiency to its customers. Its inclusion in the FTSE4Good Index since 2015 reflects MHB’s focus on long term stakeholder value while advancing the global energy transition and achieving a net zero emissions target by 2050.
About HPS
Hanwha Power Systems (HPS), now known as Hanwha Power, is a global provider of marine and offshore technology solutions, delivering high-performance turbomachinery, compressors, and integrated propulsion systems for a wide range of vessels and offshore facilities. With decades of experience, HPS supports newbuilding, retrofit, and conversion projects, combining engineering excellence with innovative, energy-efficient, and decarbonisation-ready solutions. Committed to sustainable maritime operations, HPS partners with shipyards, vessel owners, and industrial clients worldwide to enable safer, cleaner, and more efficient marine and offshore operations.
For more information, kindly contact MHB Corporate Communications:
Nor Mariam Mohd Nazir
Hp: +6012 341 9494
Email: nor.mariam@mmhe.com.my
Tunku Putri Nur Asma Tunku Ja’afar
Hp: +6012 299 5727
Email: putri.nurasma@mmhe.com.my
