PETALING JAYA: Metallurgical coke manufacturer Sino Hua-An International Bhd is diversifying into the technology business with the acquisition of a 100% stake in TouchPoint Group for RM72 million.
TouchPoint is principally involved in the research, development and providing professional services related to enterprise mobile applications and smart city platform and ecosystem enablement, including conducting businesses in payment, loyalty, e-wallet, analytics and others services.
“With the advancement in digital technology and the development of more sophisticated artificial intelligence that disrupt conventional businesses worldwide, this space is going to be one of the fastest growing industries,” said Sino Hua-An executive chairman Tunku Naquiyuddin Ibni Tuanku Ja’afar (pix) at a media briefing today.
“Aside from being a potential profitable venture, this acquisition will bring a whole new set of expertise and knowledge that we are excited to expand into,” he added.
With the proposed acquisition, Sino Hua-An is set to expand into Industrial 4.0, offering digital solutions based on Internet-of-Things systems.
The acquisition is expected to be completed by the end of the year.
source https://www.thesundaily.my/business/sino-hua-an-diversifies-into-technology-sector-with-touchpoint-buy-GC1703697
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