KUALA LUMPUR (Aug 12): FSBM Holdings Bhd (KL:FSBM) is exploring opportunities with Australian financial group Monochrome Corporation Pty Ltd in areas spanning Web 3.0, blockchain platform services and digital asset infrastructure development.

Under their collaboration agreement, FSBM’s wholly-owned FSBMI-Command Sdn Bhd, will act as the technology solutions partner, while Monochrome will provide consulting and advisory services on regulated digital asset investment structures, exchange-traded fund (ETF) operations and technology enablement for financial services.

Monochrome, an Australian-based, multi-investment, crypto-asset financial services group, manages about A$180 million (RM497 million) worth of assets, according to a statement from FSBM on Tuesday.

FSBM deputy executive chairman CK Cheong said the partnership aims to develop an AI-driven, cross-chain compatible infrastructure platform to bolster Malaysia’s role in the blockchain ecosystem.

“FSBM is positioning itself as a regional leader in technology solutions. This collaboration marks a strategic milestone in our blockchain and digital systems roadmap, and a key step towards building Malaysia’s next-generation digital infrastructure,” Cheong said.

FSBM has pivoted its business model towards providing software-based technology solutions, having previously been the sole distributor of Fujitsu products in Malaysia.

For the first quarter ended March 31, 2025, the group posted a net loss of RM771,000, compared with a net profit of RM654,000 in the same period a year earlier on higher costs and lower margin. Revenue fell 54.04% year-on-year to RM1.79 million.

Shares of FSBM closed half a sen or 1.89% lower at 26 sen on Tuesday, valuing the information technology services and systems provider at RM133.68 million.