The Board of Directors of TH Heavy Engineering Berhad announced that the company had, on 15 March 2022 entered into a strategic collaboration agreement with SMHB SDN BHD, in relation to exploring the possibility of a potential strategic collaboration and to build strong capability and capacity to undertake potential projects which may be awarded to THHE related to which SMHB will focus on areas of project management, project planning, engineering services, and construction of infrastructure services. The Agreement allows the company and SMHB ("the Parties") to memorialize the intention of the Parties to explore and discuss the potential areas of collaboration and cooperation and the respective roles and obligations of the Parties related to any particular Project that may be awarded to THHE as well as to ensure operational readiness to negotiate and submit technical and commercial proposal to the Government in securing Project opportunities available in the Twelfth Malaysia Plan ("Rancangan Malaysia ke-12" or "RMK12") and onwards in a manner that will be mutually beneficial to the Parties, including entering into a definitive formal agreement to implement the Potential Strategic Collaboration.