Brunei’s Masshor group eyes pier maintenance, other sectors in RP

The Masshor Group of Companies, one of the largest conglomerates in Brunei, is eyeing several areas of business in the Philippines, a ranking company official said yesterday.

In a press conference, visiting Masshor Group chairman Malai Haji Abdul Hamid Bin Haji Malai Masshor said they are exploring opportunities to invest in pier maintenance, solid waste management, industrial park, export and transportation particularly in shipping.

Masshor said they have been waiting to invest in the country. "We have tried to invest in the Philippines 10 years ago but talks did not prosper. Now, we are coming back again as we have committed to President Arroyo during her visit to Brunei last August," he said.

The official added that strategically, the Philippines is one of the suitable business partners of Brunei. "The Philippines is the closest to Brunei," he said.

The delegation from Brunei is here to talk with officials of the Philippine National Oil Co. (PNOC)-Energy Development Corp. and PNOC-Exploration Corp. on the proposed Batangas to Manila gas pipeline and the $600-million naphtha cracker plant projects.

The group earlier indicated its interest to participate in these two projects.

PNOC-EC president Rufino Bomasang said they would be presenting to the Brunei delegates the prospect of investing in oil and natural gas exploration.

Bomasang said they would focus on the Muslim areas such as Cotabato and other oil exploration projects in Mindoro and Ragay Gulf.

"The government wants to develop Muslim-denominated areas. It is time for Masshor to take part in this effort," he said.

With an annual turnover of $100 million, Masshor, aside from oil exploration, is engaged in engineering, catering, consultancy services, products distribution, property development, scaffolding, training, transport services, dairy farm, gas-fired chiller and air-conditioning maintenance and machine shop.

It has also joint venture undertakings in the United States, United Kingdom, Australia and in Asia (Singapore and Malaysia).

Masshor said they expect to firm up an agreement as soon as possible. "We will be coming up with a decision on how much we will invest and when soon," he said.