KUALA LUMPUR (Sept 14): Willowglen MSC Bhd is teaming up with a Singapore information technology firm to expand its current range of security solutions, systems and services.
In a filing with Bursa Malaysia today, the computer-based control systems provider said it has entered into a shareholders agreement with Secura Group Ltd, a Singapore Exchange Catalist Board listed entity, for the above purpose.
Under the agreement, both companies will incorporate a joint venture company known as Secura Malaysia Sdn Bhd, with each company holding 50% stake in the JV Co.
Secura Malaysia will provide cyber security, homeland security, security consultancy, security systems integration and other security products and services in the country.
The ACE-Market listed entity expects the incorporation of Secura Malaysia to be completed by September 2016.
Shares in Willowglen closed unchanged at 64 sen today, for a market value of RM155.73 million.