KUALA LUMPUR (Nov 19): Theta Edge Bhd (KL:THETA) signed a memorandum of understanding (MOU) with China’s ZICT Technology Co Ltd today (Nov 19), laying the groundwork for collaboration in smart city development and mobility-as-a-service (MaaS) initiatives.

Under the two-year agreement, Theta will spearhead development efforts as the lead partner, while ZICT will deliver the technology backbone, the group’s bourse filing said.

The collaboration aims to meet rising demand for integrated solutions in urban development, healthcare, and financial services.

The MOU would not immediately affect Theta’s financial metrics or shareholder structure as the real impact will be clearer once detailed agreements are executed.

The MOU also did not disclose a specific location for the collaboration or any financial details related to the agreement.

Nevertheless, both parties have stated that any binding agreement for the proposed initiative will only proceed if they are satisfied with the outcomes of their respective assessments and feasibility studies, which will be conducted at their own expense.

ZICT is a company incorporated under the laws of China with an outstanding track record in leading smart city, smart health, smart hospital and smart finance operators, providing smart life services for residents, businesses and governments.

At the close of trade, Theta Edge’s share price was up 11 sen or 7.59% at RM1.56, valuing the company at RM184.03 million.