Unique Fire Holdings Berhad announced that it has entered into a joint venture agreement with Shanghai Mosafe Equipment Co Ltd an established firm involved in research and development on safety equipment.
The parties said they have collectively agreed to form a joint venture company, known as Unique Mosafe Sdn Bhd in Malaysia. Unique Fire will have 60% ownership stake in the company, while the remaining 40% will be owned by Shanghai Mosafe.
Through this partnership, UMSB will manufacture, distribute, sell and supply fire sprinklers worldwide. Unique Fire's subsidiary, Unique Fire Industry Sdn Bhd will spearhead the production process and oversee the day-to-day operations, while Shanghai Mosafe will provide technical expertise and sharing of knowledge to facilitate the successful Underwriters Laboratories ("UL") certification. The UL certification serves as a testament to the product's reliability, quality and compliance with safety regulations. This partnership aims for widespread market penetration, distributing sprinklers not only in Southeast Asia but also in all other regions worldwide.
Unique Fire managing director Liew Sen Hoi said, "This strategic partnership with Mosafe perfectly complements our core business in assembling, manufacturing and distributing active fire protection systems, equipment and accessories. By fostering a collaborative partnership with a leading foreign player that has established its footprint in international markets, we are expanding our reach to customers globally. Malaysia's prime location in Southeast Asia provides an ideal base for efficient distribution across this region."