Weststar, Rocket Technologies International Collaboration To Generate Over US$10 Bln Commercial Potential
From Diah Nor Iscahyono Mohd Jaiz
CANBERRA, July 1 (Bernama) -- The strategic joint venture agreement (JVA) between Weststar Group and Australia's Rocket Technologies International Pty Ltd is expected to contribute significantly to bilateral trade and economic growth between Malaysia and Australia, with long-term commercial potential estimated at over US$10 billion (US$1 = RM4.08) through future aerospace, defence, satellite, and advanced technology programmes.
Weststar Group's founder and group managing director, Tan Sri Dr Syed Azman Syed Ibrahim, described the agreement as a transformational milestone in strengthening sovereign industrial capabilities and strategic technology cooperation between Malaysia and Australia.
“This strategic JVA represents more than a business partnership; it reflects a long-term commitment towards building sovereign aerospace and defence capabilities, creating high-value industries and strengthening technological collaboration between Malaysia and Australia.
“We believe this collaboration will create meaningful opportunities for industry growth, talent development, innovation and economic value creation for both nations while contributing towards regional capability enhancement and long-term strategic cooperation,” he said.
He was speaking to the media after the strategic JVA signing here today, witnessed by the Speaker of Dewan Rakyat Tan Sri Johari Abdul, Minister of Defence Datuk Seri Mohamed Khaled Nordin, and the High Commissioner of Malaysia to Australia Datin Paduka Sharrina Abdullah.
Under the strategic JVA, the parties will establish dedicated joint venture entities in both Malaysia and Australia to develop and deliver critical sovereign aerospace and defence capabilities, including manufacturing and assembly of integrated defence systems, civilian satellite systems and specialised government satellite solutions incorporating local design and content.
It will also include the provision of rocket testing, certification and maintenance, repair and overhaul (MRO) services, development of orbital and sub-orbital launch capabilities, and national industry development initiatives involving workforce education, technical training and industry-supported research and development (R&D) collaborations with leading aerospace and defence universities in Malaysia and Australia.
Meanwhile, Rocket Technologies International founder Allan James Payne said the collaboration marks an important step in advancing regional aerospace and defence innovation through trusted international partnerships.
“This partnership combines the industrial strengths, expertise and long-term vision of both organisations to develop advanced sovereign capabilities that will support future industry growth, technology advancement and regional cooperation between Australia and Malaysia,” he said.
The strategic JVA further reinforces the growing momentum of the Malaysia–Australia Comprehensive Strategic Partnership, particularly in economic prosperity, defence industry collaboration, advanced technologies, education, and innovation.
The collaboration is also expected to generate new opportunities for local industry participation, high-skilled employment, research commercialisation and sustainable industrial ecosystem development across both countries.
-- BERNAMA