KUALA LUMPUR (Aug 18): Cabnet Holdings Bhd is collaborating to participate in a bid for an internet data centre, or Edge Data Center, in Johor Bahru.

In a bourse filing on Thursday (Aug 18), the company said its unit Cabnet Systems (M) Sdn Bhd (CSM) had inked a preliminary collaboration agreement (PCA) with EPG Data Center Solution Sdn Bhd (EPG) to bid for the project.

On the rationale for the deal, Cabnet said the PCA forms a basis of commitment by the parties for the purpose of recording their mutual intent and understanding to discuss, negotiate and formalise the scope and terms of their cooperation in relation to the joint-venture (JV) project.

Under the deal, CSM will hold a 34% share, EPG 33%, and the proposed JV partner to be procured by EPG having a 33% stake.

At the midday break on Thursday (Aug 18), Cabnet had fallen 2.08% or half a sen to 23.5 sen, with 70,000 shares traded.