PETALING JAYA: Kejuruteraan Asastera Bhd (KAB) has entered a memorandum of understanding (MoU) with Resource Data Management Asia Sdn Bhd (RDMA) to develop new technology solutions.
The electrical and mechanical engineering firm told the stock exchange that both parties will work together to maximise benefits from its mutual interests, including expanding market shares as well as identifying strategic business developments and revenue generations.
RDMA is involved in the general distributing of electronic control system that provides temperature management assurance and flexible building automation for a wide variety of industries along with energy monitoring and control systems, as well as auditing and consulting for energy efficiency projects
KAB said among the benefits of the MoU for the group is to identify synergies between RDMA and KAB in funded research, business development, engineering technology and training activities related to the companies’ business strategies.
“Create opportunities for future joint or allied business activities and projects which translates into revenue growth, innovative technologies or solutions for use by KAB and RDMA.”
KAB said the agreement will run for a period of 36 months from the date of the signing and it could be terminated by any party following a consultation period of 30 days, followed by another 30 days termination notice to the other party.
Trading in KAB shares was halted at 9.57am and resumed at 10.57 am pending the announcement. At the noon break, the stock was unchanged at 29 sen on 2.21 million shares done.
