(From left) Lee, Ng, Seow and Tan pose with the agreement at the ceremony.

PETALING JAYA: SkyWorld Development Bhd (SkyWorld) has signed a shareholders’ agreement with Singapore-based Teambuild Holding (S) Pte Ltd (Teambuild), part of the Teambuild Construction Group, to embark on manufacturing Prefabricated Prefinished Volumetric Construction (PPVC) for the construction industry.

A joint venture company, Prefab Master Sdn Bhd (Prefab Master) will be established with SkyWorld holding a 70% equity stake and Teambuild holding the remaining 30%. Prefab Master will focus on research and development in innovative design and engineering solutions, the production, selling and installation of prefabricated and prefinished modular systems and market expansion across Asean countries excluding Singapore.

SkyWorld said PPVC technology is a cutting-edge 3D Industrialised Building System (IBS) methodology that would address critical industry challenges such as product quality, labour shortages and timely delivery. 

Prefab Master will be deploying the use of PPVC technology to support Malaysia’s largest affordable housing development in Penang, a joint development with the Penang Development Corporation and PDC Properties Sdn Bhd, secured by SkyWorld last year. It is expected to deliver over 35,000 units of Rumah Bakat Baru Madani over a 10-year development timeline.

“The utilisation of PPVC technology (3D IBS) will drive significant productivity gains, shorten construction timelines and enhance the built quality of our product, aligning seamlessly with our principles of innovation and excellence,” said SkyWorld chief executive officer Lee Chee Seng at the agreement signing ceremony. 

Also present were SkyWorld founder and executive chairman Datuk Seri Ng Thien Phing, Teambuild chief executive officer Seow Seng Wei and building construction executive director Tan Poh Tuck.  

“Additionally, it enhances safety on-site and aligns with our ESG principles of minimising construction waste, reducing dust and noise pollution and optimising resource efficiency. By combining Tembuild’s world-class PPVC expertise and track record, with our strong local market position, Prefab Master will deliver cost-effective, large-scale solutions tailored to the Malaysian market,” he added.

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