Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 21): Dataprep Holdings Bhd has entered into a memorandum of collaboration with S5 Systems Sdn Bhd to work as a technology partner in strengthening their cooperation as well as striving for the promotion of mutual exchanges.

In a filing to Bursa Malaysia today, Dataprep said the key areas under the collaboration include providing and marketing relevant ICT solutions and other related products by leveraging the strength of each other, providing the highest level of technical support, resources and business-related matters in areas that can benefit both companies.

They will also provide consultancy and marketing relevant ICT related solutions for various projects and industries including public security, e-payment, mobile security, healthcare, telecommunication, education and other related areas and products

The duration of the memorandum shall be effective for a period of five years, from Oct 20, 2020.

Dataprep said the company together with S5 Systems will use their best endeavours to broaden their mutual interests and make available to their collaborators the expertise, resources and information.

“Risk factors affecting the memorandum of collaboration include, but not limited to, execution risks such as availability and price fluctuations,” it said.

The group said it has extensive experience and an established track record in managing and mitigating such risks.

It added the collaboration is not expected to impact the share capital and shareholding structure of Dataprep.

“It is also not expected to have a material impact on the earnings and net assets of the company for the financial year ending Dec 31, 2020.

“The board of directors of Dataprep is of the opinion that the execution of the memorandum of collaboration is in the best interest of the company,” said Dataprep.

At noon break, shares in Dataprep had fallen one sen or 4.44% to 21.5 sen, bringing the market capitalisation to RM139.02 million. It saw some 23.98 million shares traded. 

Edited BySurin Murugiah
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