Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 12): PUC Bhd rose 4.35% in active trade this morning after it announced that Pictureworks (Hong Kong) Ltd has inked a four-year exclusive partnership with Hong Kong’s theme park operator Ocean Park Corp to provide the latter end-to-end photo imaging products, services and systems.

At 9.04am, PUC rose 1 sen to 24 sen with 3.99 million shares done.

Pictureworks HK is wholly-owned by Pictureworks Holdings Sdn Bhd.

Last December, PUC proposed to acquire 33% of Pictureworks Holdings shareholdings from a group of individuals, including PUC managing director and chief executive officer (CEO) Cheong Chia Chou.

The RM52.8 million acquisition, to be satisfied via a combination of cash and new share issuance, is still pending authority and shareholders’ approvals.

In a statement that was shared by PUC, Pictureworks said the four-year partnership — to take effect from June 1 this year to May 31, 2022 — will see the provision of end-to-end digital imaging products, systems and services throughout the more than 915,000 sq m Ocean Park in Hong Kong.

“The exclusive partnership will see Pictureworks deploy its state-of-the-art imaging solutions with Ocean Park being the first partner to enjoy its new proprietary Facial Recognition technology as well as PictureAir solution,” Pictureworks said.

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