KUALA LUMPUR (March 27): Mlabs Systems Bhd is going to provide its video-conferencing products to Ipharmacare Malaysia Sdn Bhd to complement the latter's online pharmaceutical platform.

In return, Ipharmacare will support Mlab's efforts to promote these products, which will include but not limited to video confrencing systems, messaging systems and network solutions, to its platform users and/or independent pharmacies.

Mlabs, through its wholly-owned Mlabs Research Sdn Bhd, today inked a collaboration and cooperation agreement with Ipharmacare for the proposed partnership.

Ipharmacare is primarily involved in the business of providing online pharmaceutical products and services to merchants and customers through its platform.

“The agreement is for a period of three years, commencing on and from March 27, unless otherwise mutually extended or terminated. Either party may terminate the agreement upon delivery of written notice at least 90 days,” Mlabs said.

Mlabs shares closed unchanged at 1.5 sen today, giving it a market capitalisation of RM11.56 million.