Dataprep inks share sales deal with RIDAA Associates

KUALA LUMPUR, 10 DECEMBER 2020 – Dataprep Holdings Bhd (DHB), via its subsidiary Solsisnet Sdn Bhd (SSB) today inked a share sale agreement with RIDAA Associates Sdn Bhd (RASB) to acquire 51 per cent equity interest in RASB for RM3 million.

DHB said the proposed acquisition is part of group’s plans to expand its core business by adding another revenue stream which is complementary in nature and would bring about synergistic benefits.

DHB has identified the multimedia and communication industry as a viable and feasible source of revenue and the acquisition would allow the company to capitalise in RASB which has favourable long term prospects in the multimedia industry.

RASB is involved in the business of selling multimedia goods, hardware and other multimedia electronic components.

The company also carry out works as extra low voltage (ELV) electrical contractors as well as all activities under the network facility provider (NFP), network service provider (NSP) and applications service provider (ASP) class license C based on the licenses issued by the Malaysian Communications and Multimedia Commission (MCMC).

The information communication and technology (ICT) industry remains vibrant and subject to new and existing technological trends such as big data analytics, data centre vision, the Internet of Things (IoT), fintech, cloud computing, mobility and social media solutions, artificial intelligence and robotics.

These developments have been made possible through the government’s efforts to provide affordable broadband access as well as investing in fifth generation (5G) infrastructure.

The government’s vigorous rollout of the National Fiberisation and Connectivity Plan (NFCP) is key development for 5G network technology and directly drives the growth and development of ICT industry upwards.

DHB is looking forward to the new venture into telco tower projects as it is aligned with the implementation of the NFCP by the government as the foundation of the country’s digital infrastructure transition towards 5G technology.

Source: NST