ML Global set to expand in IBS segment

( From Left to Right ) ML Global Berhad group managing director Tan Sri Lim Hock San, Minister in the Prime Minister Department Datuk Seri Dr.Wee Ka Siong and Sany Group China ceo Tang Xiu Guo at the MOU signing ceremony between ML Global Berhad and Sany Construction Industry Development (M) Sdn Bhd. - SAMUEL ONG / THE STAR,

KUALA LUMPUR: Construction company ML Global Bhd is set to expand in the industrialised building system (IBS) segment, as it forms a joint-venture (JV) which will see an initial investment worth up to RM40mil in the first phase.

ML Global, which is 55.3% owned by LBS Bina Group Bhd, has inked a memorandum of understanding (MoU) with Sany Construction Industry Development (M) Sdn Bhd to form a JV, as it seeks to establish a precast concrete panel manufacturing plant within the next six months. Sany Construction is a subsidiary of China-based Sany Group Co Ltd, which is the sixth largest heavy equipment manufacturer in the world.