MODEC, Inc. [“MODEC”; TSE: 6269], a publicly listed company on the Tokyo Stock Exchange, and a leading floating solutions provider in the global floating production, storage and offloading (FPSO) industry, has officially opened its new execution center in Kuala Lumpur. This affirms MODEC’s commitment to Malaysia as a strategic hub for regional business operations, innovation, and excellence. Marking a significant step in MODEC’s long-term vision, the expansion is poised to enhance its capabilities and better serve clients across key global markets.

Established in 2024, the Kuala Lumpur execution center will serve as MODEC’s hub for Engineering, Procurement, Construction, and Installation (EPCI) project management, playing a critical role in:  

• Supervising subcontracted detailed engineering activities,  
• Overseeing hull / module construction and integration in shipyards, and  
• Managing installation and commissioning activities at offshore destinations.  

Beyond Malaysia, the hub will also support operations in India, China, Vietnam, Brazil, Singapore, Japan, and the USA, while driving key initiatives in Front-End Engineering Design (FEED), Pre-FEED execution, research and development, digital and analytics development, and project proposals.

A Commitment to Growth and Local Talent

Malaysia has long been recognized as a competitive hub for energy and engineering services, and MODEC’s investment further reinforces the country’s standing in the global market.  

“The establishment of our Kuala Lumpur Hub is a testament to MODEC’s long-term vision and confidence in Malaysia’s position as an increasingly competitive hub for regional business operations, innovation, and excellence,” said Hirohiko Miyata, President and CEO of MODEC Group. “With the FPSO industry poised for significant growth over the next decades, this new center will drive innovation, enhance our project execution capabilities, and strengthen our regional presence. We are excited to contribute to Malaysia’s economic development and growth while delivering world-class solutions to our clients.”  

“This marks a significant milestone in our journey towards excellence in floating production solutions,” says Soichi Ide, Head of Floating Production Solutions of MODEC Group and Director of MODEC in Malaysia. By establishing our presence here, we are creating high-value jobs, fostering knowledge transfer, and empowering the local workforce. Our goal is to build a strong foundation for sustainable growth in Malaysia and the wider region. This execution center represents our commitment to innovation, collaboration, and delivering top-tier services to our clients.”

Echoing this sentiment, Masataka Utsumi, Country Manager of MODEC in Malaysia, emphasized the company’s commitment to talent development and long-term investment in the country. “For us, this new center is more than just an office. It is a strategic hub that will strengthen our ability to deliver complex projects with efficiency, accuracy, and innovation. With Malaysia’s strong engineering talent, commitment to sustainability and its strategic location, establishing our execution center here was a natural choice.” 

Spanning five floors in the heart of Kuala Lumpur, the execution center is expected to create numerous high-value job opportunities, empower local talent, and contribute to reducing unemployment rates. To date, MODEC has employed nearly 200 Malaysian professionals, with plans to quadruple its local workforce to over 800 employees in the years to come.

Malaysia’s Role as a Regional Business Hub

The official opening ceremony of the MODEC execution center was officiated by Minister in the Prime Minister’s Department (Federal Territories), YB Datuk Seri Dr. Zaliha binti Mustafa, who welcomed MODEC’s investment as a testament to Malaysia’s position as a key player in the global energy industry.

“We are excited to welcome MODEC to Malaysia. Your presence is a key indicator to Malaysia’s progress towards becoming an economic leader in Asia in line with the principles of our MADANI economic framework. 

This investment also aligns with our nation’s goal of positioning Greater KL as a hub for high-value industries, and we are confident that MODEC’s presence will drive innovation, job creation, and industry excellence,” said Datuk Seri Dr. Zaliha binti Mustafa.

A Boost for Investment

“MODEC’s expansion into Greater Kuala Lumpur marks a significant milestone in Malaysia’s journey towards becoming a hub for advanced and technology-driven activities,” said Datuk Muhammad Azmi Zulkifli, CEO of InvestKL. “Their decision to invest here signals strong confidence in Malaysia’s position as a strategic base for innovation, digital capabilities, and future-ready industries. Beyond job creation, it will also contribute to the upskilling of Malaysian talent through the transfer of knowledge and technology, creating long-term value for our local ecosystem. This is the kind of impactful investment that aligns with our long-term vision of economic transformation, and we look forward to supporting MODEC as they scale their presence here.”

The First Project to be Executed from the KL Execution Center

In March 2025, MODEC was awarded a Purchase and Sales Agreement, and a 20-year contract for the operations and maintenance of an FPSO for the Gato do Mato oil field, offshore Brazil by Shell Brasil Petróleo Ltda. The FPSO Gato do Mato project will be the first project to be executed in the new Kuala Lumpur execution center. 

“The Gato do Mato project marks a significant milestone for us as we expand our operations into Malaysia. It’s truly an honor and an exciting opportunity for me to lead the first project which will be executed in Kuala Lumpur,” said Raghava Venkateshwara, MODEC Project Manager for FPSO Gato do Mato project.