Nova MSC Berhad has solidified a landmark joint venture agreement with Theta Edge Berhad to establish a joint venture company to provide the e-government solutions as well as a suite of IT services including system integration, consultancy and infrastructure system services in Malaysia. This strategic partnership will represent a significant milestone in Malaysia's digital transformation evolution. 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 ("AI"), Digital Transformation, and Big Data across the construction industry, especially within the realms of the construction industry and e-Government services. This joint venture will set new standards in efficiency, accuracy, and responsiveness by focusing on innovative practices such as automated Building Information Modeling ("BIM") in design validation, streamlined governmental processes, and integrated digital platforms. Aside from that, the implementation of automated processes and the integration of Integrated Digital Delivery ("IDD") will promote improved efficiency and innovation in e-Government solutions, resulting in quicker responses and increased transparency. It is a significant stride in actualising the technological future of Malaysia and reflects an ambitious commitment to industry transformation.

This immense transformation will require commitment and investment from technology players with a strong track record. According to the filing with Bursa Malaysia, the JV Co will be backed by a capital investment commitment worth of MYR 15.0 million. Theta will own a majority stake of the JV Co with a 60% stake and will eventually subscribe for 60 million shares for MYR 9 million in cash.

Meanwhile, Nova MSC will own a 40% stake in the JV Co via the transfer of its Intellectual Property Rights ("IPR") for the Malaysia region to the JV Co. The JV is in the midst of finalizing its strategic business plan to capture the opportunities in the market.