Sharjah Asset Management joins forces with largest engineering consulting firm in Malaysia
Sharjah Asset Management (SAM), the investment arm of the Sharjah government, has announced the launch of a new company through its partnership with the largest engineering consulting firm in Malaysia (CHSS).
The new alliance, called Asool CHSS, will work to provide the most effective levels of engineering solutions in order to support and enhance the development of infrastructure and urban projects in the emirate of Sharjah.
HE Walid Al Sayegh, CEO of SAM, said: “Thanks to the support of the Emirate of Sharjah, under the guidance of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, the emirate is rising as a preferred option for investors and investments.
“This is apparent through the increase in international companies seeking to enter the region’s markets, such as the engineering consultancy firm CHSS, which is the largest engineering company in Malaysia.
“SAM has managed, in line with its continuous efforts aimed at consolidating relations with major international companies, to achieve this exciting new alliance with CHSS.
“The joint venture will constitute a major value to projects in the Emirate of Sharjah, which is always keen to adhere to the policies of the open market and provide all the facilities necessary to support investment and companies of all sizes and sectors.”
Tan Sri Ir. Kuna Sittampalam, executive vice chairman at CHSS Engineers, said his team was excited to join hands with SAM.
“We are eager to welcome the UAE fresh engineers as they visit our group in Malaysia to get first-hand experience and knowledge of the process of managing large scale projects.
“This will be in the form of short programs or long internships which will allow the engineers to return home with a wealth of experience to benefit their local society.
“I believe governments will accelerate the projects to jumpstart the economy. We foresee the construction industry, particularly the infrastructure space to play a major role, as this will provide the necessary larger downstream multipliers to the economy.
“As a key player already involved in existing nation-building projects, for example, the East Coast Rail Link, Klang Valley Mass Rapid Transit Line 2, Iskandar Malaysia Bus Rapid Transit project and Langat 2 Water Supply Scheme, we will leverage on our expertise and track record to remain involved in all future projects.”
George Saeed Khuraish, general manager of CHSS, added: “It is our pleasure to enter into an alliance with Sharjah Asset Management, and we will do our utmost to provide the best possible engineering solutions for future projects.
“With our working relationship with government agencies and private companies in the Emirates spanning over the last decade, we are certain that this alliance will contribute to strengthening these relationships even further.”
The GM also praised the great development witnessed in the urban development sector in the Emirate of Sharjah.
He commended the way in which the emirate was able, within a few years, to develop a suitable environment for real estate investment, becoming a leading figure in the sector.
Abdulaziz Fikry was appointed CEO of the new company, and said: “There are many investment opportunities provided by Sharjah in various sectors, including the real estate sector, and the construction and infrastructure sectors, so we expect great success for this new entity during the coming period, especially in light of the facilities provided by the emirate to investors from all over the world.”