Vizione teams up with Vertice

PETALING JAYA: Vizione Holdings Bhd’s wholly owned subsidiary, Vizione Construction Sdn Bhd(VCSB) and Vertice Bhd’s, Vertice Construction Sdn Bhd have entered into a joint venture-cum-shareholders agreement to strengthen competencies in the construction sector.
Both companies told the stock change that the “purpose of recording the terms and conditions agreed between them with respect to their joint venture and for the purpose of regulating their relationship with one another and certain aspects of the business affairs and dealings.”
The two companies, which hold an equal 50% stake in the JV Co, will fund the financial commitment of the joint venture with banks borrowings and/or advances from the shareholders.
Vertice gained 1.55% to close at 98 sen with 367,800 shares done. Vizione remained unchanged at 13.5sen with 8.21million shares done.