Illustrative image (Source: thestar.com)
Kuala Lumpur (VNA) – Malaysia’s Defense Ministry has signed a total of 35 agreements valued at 3.8 billion RM (860 million USD) at the 14th Langkawi International Maritime and Aerospace (LIMA) exhibition 2017.

They include 12 Memoranda of Understanding, seven Letters of Agreement, five Letters of Intent, and 11 contracts.

Defense Minister Hishammuddin Hussein said the value of the agreements increased by 81 percent from 2.04 billion RM in 2015 to 3.8 billion RM.

Despite the economic uncertainties and budget constraints, Malaysia is still able to increase the value of signed contracts and agreements, he added.

The achievement is a testament to the success of the Defense Ministry in cooperating with foreign partners, he said, adding that modernising the Malaysian armed forces in the context of global economic challenges remains a top priority of the Defense Ministry and Government.

The participating companies include Boustead Naval Shipyard, Seicom System Sdn Bhd, Aerospace Technology System Corp Sdn Bhd, Europrop International, GmbH, Pilatus Aircraft Limited, Airbus Military Sociedad Limitada, Airod Sdn Bhd, and Destin Prima Sdn Bhd.-VNA