Oasis Home's (KLSE:OHM) unit, Oasis Wellness International, signed a joint venture deal with GIMCare (M) to form a new unit, OG Alliance.
The new JV company will have a capital of 500,000 ringgit, and will focus on e-commerce sales and R&D of wellness products, according to a Monday Malaysian bourse filing.
Oasis Wellness will hold a 51% stake in venture, while GIMCare (M) will own the remaining 49%.
The consumer lifestyle products seller will finance the deal via internally generated funds, it said.
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