Sino Hua-An to acquire data analytics, biz intelligence firms for RM27m

PETALING JAYA: Sino Hua-An International Bhd has signed a sales and purchase agreement to acquire two

business intelligence and data analytics solutions providers for RM27 million.

In a statement, the group said the companies, namely Human Capient Consulting Sdn Bhd and MD Labs Sdn Bhd (collectively known as HM Group), have on their own established a strong track record and clientele over the years.

Collectively, the group is able to deploy digital solutions to businesses and organisations with a focus on the principles of Industry 4.0 and an emphasis on scalable deployment of technologies, driven by artificial intelligence, big data and data analytics.

The purchase is expected to further strengthen Hua-An’s position as Malaysia’s leading digital enabler following the completion of its acquisition of the Touchpoint Group, which was announced in December 2019 and allow the group to develop new streams of income apart from its traditional manufacture and sale of metallurgical coke.

Hua-An executive director Datuk Jared Lim said the acquisition is both timely and well placed for Hua-An.

“The digital technology business is our identified focus area of growth. If anything, the Covid-19 outbreak has made many businesses realise that digitalisation is a necessary and critical priority.

““We see an increased demand for companies wanting to digitalise their businesses especially after this pandemic and we are in a good position to help them evolve for Industry 4.0,” he said.

Under the agreement, , Hua-An will own 70% of Human Capient, and 100% of MD Labs.

The acquisition of HM Group will provide a total cumulative profit guarantee of RM5.8 million over two years to Hua-An, and will contribute positively to the group’s overall performance in the long term.

source https://www.thesundaily.my/business/sino-hua-an-to-acquire-data-analytics-biz-intelligence-firms-for-rm27m-NA2323942