KUALA LUMPUR: Datasonic Group Bhd is partnering with Bahraini company Dynamic Structures WLL (DSWLL) to expand its security business internationally in 18 countries in the Middle East and North Africa region.
In a bourse filing, Datasonic said it inked a five-year exclusive agency agreement with DSWLL to jointly develop and coordinate business activities of secure identification, personalisation solution, integrated security and surveillance system. It will also establish a legal presence via an official regional office to undertake all its activities.
DSWLL, meanwhile, will assist Datasonic to obtain the necessary licences, permits, and registrations required to start operations in Bahrain, Saudi Arabia, Qatar, Kuwait, United Arab Emirates, Oman, Yemen, Iraq, Syria, Lebanon, Turkey, Egypt, Sudan, Djibouti, Libya, Morocco, Algeria, and Tunisia.
Datasonic will fully fund the set up of the regional office and the rental of an office, the company’s registration fees and the salary of a staff of the branch office for these countries.
While the agreement is not expected to see any contribution for the financial year ending March 31, 2019, subject to the successful bidding of project(s) in the said countries, Datasonic said it is expected to contribute positively to its future earnings.