KUALA LUMPUR (Jan 20): Timber firm Maxland Bhd (KL:MAXLAND) has inked a formal deal to collaborate with data processing services provider GDC Data Sdn Bhd to jointly venture into data centre development in Kulim, Kedah.
Maxland’s wholly owned units Maxland Energy Sdn Bhd and Maxland Real Sdn Bhd inked the agreement with GDC Data, according to the company in a bourse filing on Monday.
Under the deal, GDC Data will acquire a 49% stake in Maxland Real, which is to serve as the joint-venture (JV) company for the collaboration.
Both Maxland and GDC Data are to inject RM12 million each — an aggregate RM24 million — into the JV company. Other terms outlined that Maxland is responsible for securing financing for the venture, while GDC is to procure offtakers and engage turnkey contractors.
Maxland said the partnership aims to establish a state-of-the-art data centre in the Kulim High-Tech Park, leveraging GDC Data’s expertise in digital infrastructure services and role as a sourcing offtaker, according to the company formerly known as Priceworth International Bhd.
In December last year, Maxland entered into an agreement with Kulim Technology Park Corp Sdn Bhd to lease a 4.57-acre parcel in the technology park for RM9.95 million, where it plans to develop the data centre.
Besides Kulim, Maxland noted the collaboration also involves exploring data centre development in Sedenak, Johor.
Shares in Maxland closed half a sen or 8.33% lower at 5.5 sen on Monday, valuing the company at RM73.5 million.