Sunday 05 May 2024
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KUALA LUMPUR (Jan 13): Boustead Holdings Bhd is teaming up with US firm Accubits Technologies FZ LLE to develop capabilities for real estate asset tokenization and sustainable green energy tokenization.

Accubits is an enterprise solutions development company specializing in artificial intelligence and blockchain technologies based in Virginia, with offices in India and UAE.

In a bourse filing, Boustead said the two sides inked a Memorandum of Understanding on Thursday to “develop the partnership co-operation between Boustead and Accubits on the basis of equality and mutual benefit”.

The MoU, which has a duration of one year, is not expected to have any material effect on its earnings for the financial year ending Dec 31, 2022, but will contribute positively to its future earnings, said Boustead.

Boustead’s share price closed one sen or 1.8% higher at 56.5 sen, giving the group a market capitalisation of RM1.15 billion.

Edited ByS Kanagaraju
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