KUALA LUMPUR (Aug 25): Loss-making MNC Wireless Bhd is teaming up with government-owned Syarikat Perumahan Negara Bhd (SPNB) to provide financial support for the latter’s affordable housing projects.

The move was formalised after the group inked a Memorandum of Understanding with SPNB’s financing arm unit, SPNB Dana Sdn Bhd, today.

MNC said it, together with SPNB Dana, will be injecting funds to create a joint-venture company in which it will take on the role of providing digital technology services, while SPNB Data will source for financial aid from financial institutions to fund for affordable  housing development projects

“We are pleased to have secured the confidence and support of SPNB, in providing our digital technology solution services to support SPNB’s digital transformation road map and the national agenda of making housing affordable for the rakyat (people),” MNC chief executive officer Christopher Tan said in a joint-statement.

“MNC Wireless is keen to form strategic joint ventures and partnerships that fit with its business with its capabilities and drive revenue streams to the company,” he added.

According to MNC, its role in the joint-venture company will see it develop a digital mobile and web-based platform that will comprise business-to-business (B2B) and business-to-customer (B2C) channels and serve SPNB’s business partners and home owners.

This, added MNC, is in-line with SPNB’s digital transformation road map to further enhance its customer and business partners’ engagement management, with a greener footprint and improved business processes lead time.

Listed on the ACE market since 2005, shares in MNC closed unchanged at 8 sen today, for a market capitalisation of RM38.27 million.