Sime Darby Industrial and Icon Offshore Berhad in Strategic Collaboration

Exchange of documents: From left: Icon Offshore Berhad chairman Raja Tan Sri Dato’ Seri Arshad Raja Tun Uda, Icon Offshore Berhad Managing Director Dato’ Sri Hadian Hashim, Sime Darby Industrial Sdn Bhd Managing Director CK Teoh and Sime Darby Berhad Group Chief Financial Officer Mustamir Mohamad.

KUALA LUMPUR, 24 August: Sime Darby Industrial Sdn Bhd (SDISB) and Icon Offshore Berhad, via its subsidiary Icon Ship Management Sdn Bhd (ICON), have entered into a strategic collaboration for a pilot project to install a CAT® Remote Fleet Vision (RFV) on an ICON vessel.

The RFV installation is the first ever on a vessel in Malaysia.

SDISB, a subsidiary of Sime Darby Berhad, is the authorised distributor and technical support service provider for Caterpillar marine engines and related products in Malaysia and Brunei.

ICON meanwhile, is a wholly owned subsidiary of Icon Offshore Berhad, the largest offshore support vessel (OSV) provider in Malaysia operating a wide range of logistical support services throughout the entire offshore oil and gas life cycle. 

The CAT® Remote Fleet Vision device, also known as the RFV will be installed on board Icon Zara, a vessel owned by ICON. 

SDISB will undertake all the costs of installation and monthly collaboration for six months from the commissioning date. At the end of the six months, ICON has the option to lease the RFV from SDISB for 30 months.

SDISB Managing Director CK Teoh said SDISB and ICON have a long-term relationship having grown the business together for over 10 years.

“ICON has given us the trust and mandate to handle the repair and overhaul of the vessels all these years. This partnership has indeed supported our growth in the sector. 

“Now, as an extension of our services after several rounds of collaborations, we are pleased to offer ICON the RFV. We have had prior engagements with the ICON management team to present our capabilities and we applaud them for their foresight in adopting this game-changing technology.

“This venture between both companies is a breakthrough for us in our quest to expand our business,” Teoh added.
Icon Offshore Berhad Managing Director Dato’ Sri Hadian Hashim thanked SDISB for its support in ensuring ICON’s fleet are maintained in a timely and professional manner.

“With almost 80% of our vessels equipped with Caterpillar engines, we have been relying on SDISB for parts and services for regular maintenance as well as drydocking programmes over the last decade. 

“Today we are embarking on a new journey with SDISB on a strategic collaboration for maintenance and drydocking, by streamlining our processes and improving the execution at SDISB’s end. We were excited by SDISB’s proposal on RFV and jumped at the chance to be the first OSV player to pilot it.

He further added: “The RFV is a game changer for us and we look forward to more exciting solutions from SDISB to redefine the way we operate. We believe this strategic collaboration is beneficial to both parties and will further strengthen our partnership.”

RFV is the latest technology offered by Caterpillar. Cat RFV which is bundled with a customer preventive maintenance Customer Value Agreement (CVA) provides customers with customised data to identify and resolve problems quickly. It is also able to locate, track and manage all customer connected assets with just a few clicks no matter where the vessel is or the brand of engines used. ICON is the first Malaysian marine customer to install the solution.

Services to be included in the arrangement for ICON are daily remote monitoring services, monthly condition monitoring reports, annual engine health checks and periodical engine oil sampling (every 500 Service Meter Unit hours).

Two additional and related agreements were also signed today namely the Pricing Framework   and Dry Docking Maintenance agreements.
Under the Pricing Framework agreement, ICON will enjoy fixed pricing for the duration of the contract, and enjoy the 12 months CAT Global warranty for all parts supplies. This is especially important during these times when market conditions are volatile, and a single pricing agreement provides stability for customers.

Also present during the signing ceremony were Icon Offshore Berhad chairman Raja Tan Sri Dato’ Seri Arshad Raja Tun Uda and Sime Darby Berhad Group Chief Financial Officer Mustamir Mohamad.

For further information, please contact: 

Regina William
Head, Business Intelligence & Media
Sime Darby Industrial Sdn Bhd
Tel: 019 2990470(HP) 603 80688350 (DL)
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