KUALA LUMPUR (Sept 6): DWL Resources Bhd, formerly known as Spring Gallery Bhd, is partnering Sri Lanka's mobile provider Mobitel (Private) Ltd to secure government-related projects there.

Its wholly-owned subsidiary DWL Technologies Sdn Bhd (DTSB) will form a joint venture (JV) company with Mobitel, seeking to provide the Sri Lanka Integrated Placement Solution (SLiFPS) to the Bureau of Foreign Employment of the Government of Sri Lanka.

The JV company, to be incorporated in Sri Lanka, will have an initial paid-up capital of LKR100,000 (approximately RM2,300). DTSB will initially hold a 51% stake, with Mobitel the rest.

“It is a significant partnership for DTSB as we strive to realise our first deal with the Government of Sri Lanka to deploy the SLiFPS across the country to ease its management of foreign worker placements," said DTSB director Datuk Aminul Islam in a statement today.

“If we are awarded the project, we believe that it would contribute positively to DWL Group’s future earnings and the additional revenue contribution from the project is expected to enhance DWL Group’s profitability and returns on shareholders’ funds,” he added.

DTSB is involved in the promotion, marketing and distribution of Bestinet Technology Sdn Bhd’s solutions and services in South Asia.

Bestinet is the developer and owner of SLiFPS and other digital solutions, which will be responsible for the digitisation of migrant worker management and processing in labour-sending countries, on behalf of the labour-receiving countries.

DWL shares fell 0.5 sen or 0.9% to close at 55 sen today, giving it a market capitalisation of RM128.06 million.