KUALA LUMPUR: Techna-X Bhd
has entered into a joint venture (JV) with K.L. Post Sdn Bhd (KLP) to undertake a digital media, communications and marketing project valued at about RM4mil.
In a filing with Bursa Malaysia, Techna said the JV was established to execute, manage and deliver digital content production, media placement and campaign services under a contract awarded to KLP on June 3.
The project has a tenure of 12 months from its commencement date, with an option for extension under the terms of the letter of award.
Under the JV agreement, Techna will hold a 51% stake in the JV company, while KLP will own the remaining 49%.
Techna said it would provide technical expertise, software systems, proprietary technology integration, technical support and facilitate funding for the JV company, while KLP will oversee client and stakeholder management as well as overall project governance.
The JV company will serve as the special-purpose operational vehicle responsible for executing the project’s technical, digital production and media deliverables.
Techna’s capital commitment to the JV is capped at RM3mil, which it intends to fund through internally generated funds and/or shareholder advances.
“The entry into the JV agreement represents an expansion into the digital media, communications, information technology, and support services sector.”