KUALA LUMPUR (Jan 31): Nova MSC Bhd and Theta Edge Bhd have teamed up to jointly market and promote healthcare, public sector and applied artificial intelligence (AI) solutions and products in Malaysia and other Asean countries.
In a joint statement, the two companies said they signed a memorandum of understanding (MOU) on Tuesday (Jan 31), and have agreed to hold commercial discussions at a later stage to determine the sharing of revenue derived from the collaboration.
Nova MSC will play the role of a technology partner to Theta, jointly assessing the solution, architecture, suitability of technical components and interoperability with third-party systems or the existing IT infrastructure.
Meanwhile, Theta will develop business plans for the products in Malaysia and other Asean countries, alongside marketing and commercial plans with delivery timelines.
Aside from that, Nova MSC will also take the lead in technical sales, pre-sales and sales activities to support Theta.
“This includes but is not limited to end-user training, technical assistance and support services upon the successful award of a project.
“Theta’s additional roles and responsibilities include providing expertise to guide Nova MSC in understanding the requirements for positioning the products and taking the lead on business development, marketing and promotion of the products in Malaysia and other Asean countries,” the companies said.
Nova MSC is a leading provider of ready-to-deploy, industry-focused application software and services for the government and healthcare sectors, with an international track record.
Theta, a member of the Tabung Haji group, has expertise in the technology (information technology, green energy, healthcare and technology solutions) and telecommunication engineering industries.
“We believe that the collaboration will help provide a win-win situation for both companies and help us expand our businesses in the healthcare (and) public sectors, and applied AI businesses in Malaysia and other Asean countries,” said Nova MSC’s group CEO Lai Teik Kin.
Theta Edge’s group CEO Nuraslina Zainal said the collaboration is timely for digital transformation across every industry and market.
Shares of Nova MSC closed unchanged at 12 sen on Tuesday, giving the company a market capitalisation of RM135.84 million. Theta Edge closed 2.04% or 1.5 sen lower at 72 sen, valuing the company at RM84.94 million.