Systech teams up with Permodalan Kedah for high-tech projects including tech parks, data centres

• Under the MOC that is valid for one year, PKB is responsible for securing grants, incentives, and land, facilitating project approvals, and ensuring the implementation of the technology park and high-tech projects.

KUALA LUMPUR (Feb 19): Systech Bhd (KL:SYSTECH) has inked a memorandum of collaboration (MOC) with state-owned investment company Permodalan Kedah Bhd (PKB) and Tujuh Warisan Sdn Bhd (TWSB) to explore opportunities to establish, operate, and maintain projects related to high-tech infrastructures in Kedah.

According to the bourse filing on Tuesday, Systech said the high-tech infrastructures include technology parks, data centres, hydrogen energy, and artificial intelligence (AI) solutions.

Under the MOC that is valid for one year, PKB is responsible for securing grants, incentives, and land, facilitating project approvals, and ensuring the implementation of the technology park and high-tech projects.

Systech will manage the data centre and high-tech infrastructure, which includes sourcing for equipment, as well as develop and integrate operational systems and cybersecurity frameworks.

TWSB will be responsible for strategising development plans for the technology park, data centre, and related projects and oversee the strategic partnerships. The shareholders of the company are Eizaz Azhar and Eizhan Azhar.

Systech said the MOC is not expected to have any material effect on its earnings and net assets for the financial year ending March 31, 2025 (FY2025).

Datuk Hooi Jia Hao is the largest shareholder in Systech with a 11.24% direct stake and a 31.17% indirect stake held through Smartpro Capital Sdn Bhd and Sea Capital LP.

Other substantial shareholders include Julius Leonie Chai with a 10.81% stake.

For the six months ended Sept 30, 2024 (6MFY2025), the group’s net loss increased slightly to RM391,000 from a net loss of RM373,000 a year ago, while total revenue increased nearly three times to RM27.22 million from RM9.82 million in 6MFY2024, mainly contributed by its corporate solutions and e-logistic solution segments.

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