Mlabs to collaborate with China's Red Dragon to expand intellectual properties business

PETALING JAYA: Multimedia video conferencing systems firm Mlabs Systems Bhd, which was the fourth most active counter today, has announced a collaboration agreement with China's Red Dragon Media Ltd for the expansion of intellectual properties (IPs) business.
The collaboration aims to market and perform business activities of both parties to expand the IPs business domestically and internationally.
Both parties will also share their respective technologies and expertise so as to develop worldwide famous IPs expanding from the Chinese market into Malaysia market and to associate with Malaysia's media and game developing companies to do research and share new IPs.
Red Dragon specialises in creating extraordinary computer animated imagery, stereoscopic video games, visualization, concept designs and video games development for the entertainment, education and technology industries. It has started work on its own intellectual properties (IPs) projects to produce feature quality animated movies and television shows since 2016.
The collaboration agreement will be renewed automatically every year.
Mlabs shares started to pare down its gain on Monday after it hit a record high of 46.5 sen last Friday, which prompted an unusual market activity query by Bursa Malaysia. In response to the query, the group told the stock exchange that it is collaborating with Singapore's e-horizon Asia Pte Ltd to distribute its multimedia videoconferencing and mobile application products.
Mlabs shares declined four sen or 12.5% to close at 28 sen, on some 67.26 million shares done, giving it a market capitalisation of RM52.32 million.