BUSINESS

ACME SIGNS JOINT-VENTURE AGREEMENT WITH SKYMIND

24/11/2020 01:48 PM

Kuala Lumpur, (Bernama) -- ACME HOLDINGS BHD has entered into a joint-venture agreement with Skymind Holdings Bhd (SHB) and Java Multimedia Sdn Bhd (JMSB) to collaborate in the manufacturing of hardware devices required for artificial intelligence (AI) solutions.

The collaboration will be exercised through a joint-venture company Skymind Intelligent Systems Sdn Bhd (Skymind IS).

In a filing with Bursa Malaysia today, it said the proposed initial shareholding of Skymind IS comprises ACME 30 per cent, SHB 49 per cent and JMSB 21 per cent.

In a separate statement, it said Skymind IS will develop new advanced edge computing devices that will drive the country’s digital transformation through the innovative and widespread use of AI and data deployment.

The joint venture is not expected to have an impact on the gearing of the group for the financial year ending March 31, 2021, it said.

-- BERNAMA
 

 


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