CEO Morning Brief

Systech Enters Partnership to Develop Data Centres

edgeinvest
Publish date: Tue, 25 Jun 2024, 10:59 AM
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TheEdge CEO Morning Brief
(From left): Systech Bhd executive directors Datuk Philip Ng and Datuk Derrick Hooi, EH Integrated System Sdn Bhd (EISSB) director Sim Chin Yee, and EISSB business manager Lee Yong Hou at the collaborative agreement signing ceremony.

KUALA LUMPUR (June 24): IT services firm Systech Bhd (KL:SYSTECH) said on Monday that it plans to develop and operate data centres, together with a firm offering industrial-grade servers and storage solutions.

Under the partnership with Eh Integrated Systems Sdn Bhd (EISSB), Systech said it will develop essential applications and software for data centre operations, including design, coding, testing and deployment.

The two-year agreement has no fixed-value, as the terms depend on the revenue generated, added Systech in a bourse filing on Monday.

The company said that EISSB, on its part, will procure the necessary equipment and infrastructure for the joint venture, which encompasses graphics processing units, servers, storage systems, networking equipment, cooling systems and power supply units. Additionally, EISSB commits to offering technical support, training and resources.

Systech’s shares closed 1.12% lower at 44 sen on Monday, valuing the company at RM282.76 million.

Source: TheEdge - 25 Jun 2024

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