Ireka Corp, E&H Energy form JV to supply LNG across Malaysia

Shoraka Power, a unit of Kuala Lumpur-listed Ireka Corporation (ICB), has formed a joint venture with E&H Energy to explore various energy-related businesses, with a particular focus on supplying LNG to potential buyers and users within Malaysia, Ireka announced on August 28.

ICB said that the joint venture aligns with its vision to venture into the dynamic energy sector. The partnership aims to tap into the burgeoning demand for LNG in Malaysia and cater to consumers like Petronas, independent power producers, and industrial users, the company stated.

E&H Energy will spearhead operational aspects, securing necessary approvals and coordinating implementation of energy-related projects. Shoraka Power, on the other hand, will play a role in business development, financial operations, and legal matters for the joint venture.

E&H Energy, formerly known as Irama Sejahtera, has embarked on a transformational journey. With its beginnings in audio system and electronics equipment supply, E&H shifted its focus to the energy sector in 2021. The company is recognised for its prowess in various aspects of LNG business, including trading, infrastructure, and virtual pipelines, Ireka said.