KUALA LUMPUR (Oct 16): SNS Network Technology Bhd (KL:SNS), a seller of IT and communication products and services, is partnering with Mimos Bhd to provide digital system checks and quality assurance services in the country.
They are setting up a joint venture company — Mimos Network Sdn Bhd — to undertake digital quality assurance (DQA) and independent verification and validation (IV&V) services, following the signing of a strategic joint venture agreement. This marks the firming up of a deal between the parties after they inked a memorandum of understanding last December to explore the collaboration.
DQA is an approach to ensuring the quality, functionality, security, performance and user expericence of digital products and ecosystems. It goes beyond traditional software testing to encompass the more complex, interconnected nature of the current digital landscape.
IV&V is a rigorous process that provides an unbiased, third-party assessment of a project's processes, products and deliverables. It is often employed for large-scale, complex or mission-critical systems, where failure has severe consequences.
Under the deal, SNS Network will hold a 49% equity in Mimos Network, while Mimos Holdings Sdn Bhd and Kelab Kebajikan dan Rekreasi Mimos will own 46% and 5%, respectively. Mimos Holdings is the strategic commercialisation arm of Mimos, an agency under the Ministry of Science, Technology and Innovation (Mosti).
"Combining Mimos’ deep research and development expertise with SNS Network’s commercial and operational strengths, the partnership will deliver world-class testing, certification, and validation services to both the public and private sectors. Mimos Network will serve key industries such as finance, telecommunications, healthcare, manufacturing, and education, where reliability and data integrity are paramount," read a joint statement from SNS Network and Mimos Holdings.
SNS Network managing director Ko Yun Hung said the collaboration marks an important milestone in the company's ongoing expansion into high-value digital assurance and compliance services.
"By combining our operational expertise with Mimos’ research depth, we can help enterprises and public agencies build confidence in the digital systems that underpin their growth,” said Ko.
Besides digital quality assurance solutions and IV&V services, Mimos Network will offer test automation, risk assessment, and compliance consultancy. It will also provide training and advisory services in artificial intelligence governance, blockchain validation, environmental, social and governance compliance, personal data protection, and cybersecurity resilience.
“Mimos Network will raise national standards in testing and certification, ensuring innovation is not only advanced but also trusted and secure,” said Mimos Holdings chief executive officer Razman Jaafar.
The establishment of Mimos Network aligns with the Malaysia Digital initiative and Mosti's efforts to strengthen the nation’s digital trust and compliance ecosystem, aiming to position Malaysia as a regional hub for digital assurance and certification, the statement added.
SNS Network shares closed at 67.5 sen on Wednesday, valuing the company at RM1.13 billion. The stock has gained over 20% in the past one year.