KUALA LUMPUR: Salcon Bhd’s wholly-owned subsidiary Salcon Engineering Bhd has inked a joint venture agreement with Hong Kong’s The One Smart City Development Ltd (TOSC) via its subsidiary Wide Plus Smart City Sdn Bhd (WP) to market and deploy smart water systems in Malaysia.
In a statement today, the group said Salcon will be holding the majority share at a 60:40 ratio with WP in their joint venture company (JVCo), Digital Momentum Sdn Bhd.
Upon completion of the joint venture process, JVCo will be renamed Salcon WP Sdn Bhd.
Salcon said TOSC also signed a Technology Licence Agreement with the JVCo.
It said the JVCo would focus on providing end-to-end water management solutions throughout a water utility’s entire water network system supported by Internet of Things (IOT) solutions for remote meter reading, water quality, pressure and level monitoring and leakage detection.
General manager Lee Choon Weng said the joint venture with WP would significantly advance the group’s business with meter data management solutions in the local market.
“With technology playing a critical role in every aspect of business, Salcon recognises the need to innovate and facilitate technology transfer to stay competitive in the marketplace.
“WP is the right partner for us because of their deep domain expertise to provide technology and strategic business solutions to meet the market demand and address future potential needs of our local water utilities in Malaysia,” he added. -Bernama