KUALA LUMPUR, March 28 — Lembaga Tabung Angkatan Tentera (LTAT) and PT Pindad of Indonesia today signed a Memorandum of Collaboration (MOC) to intensify cooperation, especially in further developing the defence industries of both countries.
LTAT chief executive officer Datuk Nazim Rahman said this is the first step for the two parties to synergise so that Malaysia and Indonesia could leverage on each other’s strengths and expertise.
“LTAT’s investments in the local defence industry through its investee companies currently stand at RM244.2 million, with a current total order book of RM11.8 billion.
“We will continue to explore commercially viable opportunities to further increase investment in this sector in line with LTAT’s strategic asset allocation framework,” he said at a press conference on the sidelines of the Defence Services Asia (DSA) 2022 and National Security (NATSEC) Asia 2022 exhibitions here.
Nazim signed the MOC on behalf of LTAT while PT Pindad was represented by its chief executive officer Abraham Mose.
Senior Defence Minister Datuk Seri Hishammuddin Hussein and his Indonesian counterpart Prabowo Subianto witnessed the signing.
Earlier Hishammuddin and Home Minister Datuk Seri Hamzah Zainuddin jointly graced the opening of the 17th DSA and NATSEC Asia 2022, themed Advancing into a New Era of Defence and Security.
Elaborating on the cooperation, Nazim said a delegation led by Prime Minister Datuk Seri Ismail Sabri Yaakob and Hishammuddin had visited PT Pindad in Bandung last November and witnessed the company’s capabilities as the largest defence company in Indonesia.
He said LTAT is also eyeing business opportunities and collaboration with other countries and companies to help strengthen the country’s defence.
Abraham said they are looking forward to the collaboration not only in terms of exchange of expertise also expansion of the network of potential customers for products and services offered.
PT Pindad is a state-owned company involved in the production of military and commercial wares including pistols, rifles, ammunition, special vehicles, pyrotechnic products, explosives, mechanical products, electrical optics and optoelectronics.
The company is a major supplier of armaments and ammunition for the Indonesian National Armed Forces and other uniformed bodies to support Indonesia’s defence and security capabilities.
PT Pindad also carries out development, engineering and fabrication activities, as well as maintenance, among others.
