KUALA LUMPUR: Nova MSC Bhd today entered into a memorandum of understanding (MoU) with Theta Edge Bhd to collaborate on marketing and promotion of healthcare, public sector and applied artificial intelligence (AI) solutions and products in Malaysia and other Asean countries.
Theta, a member of Tabung Haji Group, is a Bursa Malaysia Main Market-listed company focusing on information communication and technology services and the telecommunication engineering industry.
The MoU intends to set out the general understanding of Nova MCS and Theta in relation to their strategic alliance.
A filing with Bursa Malaysia yesterday showed that Nova MSC will play the role as a technology partner to Theta, jointly assessing or deciding the solution, architecture, suitability of technical components and interoperability with third-party systems or the existing IT infrastructure.
Theta, meanwhile, will develop a mutually acceptable business plan for the products in Malaysia and other Asean countries, together with marketing and commercial plans with delivery timelines.
Nova MSC will also take the lead in technical sales, presales and sales activities to support Theta. This includes – but is not limited to – end-user training, technical assistance and support services upon the successful award of a project.
Theta’s additional roles and responsibilities include providing expertise to guide Nova MSC to understand the requirements for positioning the products and taking the lead on business development, marketing and promotion of the products in Malaysia and other Asean countries.
Nova MSC’s group CEO Lai Teik Kin, said: “We look forward to establishing a fruitful relationship with Theta Group, which is one of the pioneers in the ICT industry in Malaysia. We believe that the collaboration will help to provide a win-win situation for both companies and help us to expand our businesses in the healthcare, public sector and applied AI business in Malaysia and other Asean countries.”
Theta Edge group CEO Nuraslina Zainal Abidin said: “We are positive that this collaboration brings together the respective domain expertise of each party to expand its offerings in digital and technology transformation.
“This is timely as we move into an age of fast-paced technologies, a new dimension that will pave the way for digital transformation across every industry and market.”
Both Nova MSC and Theta are well-known for their technical expertise. Nova MSC is a leading provider of ready-to-deploy and industry-focused application software and services for both the government and the healthcare sectors, with an international track record.
Theta specifically, has expertise in two main industries; technology which revolves in information technology, green energy, healthcare and technology solutions apart to the telecommunication engineering industry.
According to Lai, the priority of the MoU is to deepen cooperation between Nova MSC and Theta with the main objective of a long-term strategic partnership to collaborate in opportunities in Malaysia and opening new markets in other Asean countries.
“Our priority is to build on this cooperation between the two of us as we believe we could leverage our areas of strength to expand our business in Malaysia and other Asean countries.
“We are confident that a long-term strategic partnership and collaboration with Theta will put us on an accelerated path to growth and expansion over the next five years,” he said.
The MoU will remain in force for 12 months, and both parties have agreed to enter into commercial discussions at a later stage to determine the sharing of revenue derived from the collaboration.