KUALA LUMPUR: Nova MSC Bhd has entered into a memorandum of understanding (MoU) with Theta Edge Bhd to collaborate on joint marketing and promotion of healthcare, public sector and applied artificial intelligence (AI) solutions and products in Malaysia and other ASEAN countries.
Under the MoU, Nova MSC will serve as a technology partner to Theta, jointly assessing or deciding on the solution, architecture, suitability of technical components and interoperability with third-party systems or the existing IT infrastructure.
The company will also take the lead in technical sales, pre-sales and sales activities to support Theta.
This includes end-user training, technical assistance and support services upon the successful award of a project.
Meanwhile, Theta 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.
The company will also provide expertise to guide Nova MSC in understanding the requirements for positioning the products and taking the lead on business development, marketing and promotion of the products.
Nova MSC's group chief executive officer (CEO) Lai Teik Kin, the company was keen on establishing a fruitful relationship with Theta Group, which it claimed is one of Malaysia's pioneers in the ICT industry.
"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," said Lai.
He added that the priority of the MoU was to deepen cooperation between Nova MSC and Theta with the primary objective of a long-term strategic partnership to collaborate in opportunities in Malaysia and opening new markets in the ASEAN region.
"Our priority is to build on this cooperation between the two of us as we can leverage our areas of strength to expand our business.
"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," said Lai.
Theta Edge group CEO Nuraslina Zainal Abidin said the MoU was timely in the age of fast-paced technologies. This new dimension will pave the way for digital transformation across every industry and market.
"We are positive that this collaboration brings together the respective domain expertise of each party to expand its offerings in digital and technology transformation," she said.
The MoU will remain in force for 12 months, and both parties have agreed to enter into a commercial discussion later to determine the sharing of revenue derived from the collaboration.