Techna-X (KLSE:TECHNAX) signed a joint venture agreement with KL Post to establish a special purpose vehicle to execute and undertake a project, according to a Thursday filing with the Malaysian Exchange.
The information technology and support services provider will have a 51% stake in the vehicle, which will be incorporated within 30 days of the execution of the agreement.
Under the agreement, Techna-X will provide technical support, qualified workforce, financing assistance and strategic advice, while KL will award the entire project to the vehicle, conduct assessments, maintain client relationships and manage the project.
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