China-based Harbin Jingwei is in the business of advanced high performance composite materials. According to the terms of the agreement, Harbin Jingwei’s parent company, Shanghai EB Pipeline Engineering Ltd, will provide technical knowhow on advanced material engineering.
“This project is under China Policy of “One Belt, One Road”. Its technology is under independent research and development and this hi-tech composite material which is an advanced technology of strategic importance in the oil and gas development as well as other industries, both at home and abroad,” said Handal.
At 12.30pm, Handal was untraded and closed at a price of 22 sen last Thursday.