KUALA LUMPUR: Nova MSC Bhd and Theta Edge Bhd will establish a joint venture (JV) company to provide e-government solutions as well as a suite of IT services including system integration, consultancy and infrastructure system services.
The partnership will represent a significant milestone in Malaysia's digital transformation evolution, Nova MSC said in a statement.
"By leveraging on the strength of both companies, the partnership aims to address key challenges faced by government agencies and businesses alike, paving the way for a seamless transition to a modern and technologically advanced ecosystem.
"In particular, the collaboration will unleash the transformative potential of artificial intelligence, digital transformation, and big data, especially within the realms of the construction industry and e-government services," it added.
The joint venture will focus on innovative practices such as automated Building Information Modeling in design validation, streamlined governmental processes and integrated digital platforms.
Nova MSC said the JV company will be backed by a capital investment of RM15.0 million.
Theta will own a majority stake of the JV with 60 per cent and will eventually subscribe for 60 million shares for RM9 million in cash.
Nova MSC will own the remaining 40 per cent stake via the transfer of its intellectual property rights for the Malaysia region to the JV company.
Nova MSC executive director Nazerollnizam Kasim said the JV is more than just a business endeavour.
"Combining our technological expertise with Theta's vast experience in the ICT sector, we aim to redefine e-government and IT solutions in Malaysia."