TOTM Technologies (SGX:42F) and Teneo Communications entered into a memorandum of understanding to establish a technological partnership to scale AI and big data analytics, according to a filing with the Singapore Exchange on Friday.
The partnership is focused at accelerating and enhancing Malaysia's digital infrastructure.
Under the agreement, the two companies will form a joint venture that will leverage proprietary tech of both companies to expedite the country's digital transformation.
Shares of the technology services company were up over 6% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.