Four Malaysian technology companies will ink a business partnership agreement with locally-owned IG Tech Group – a B2B services provider specialising in IT solutions – to market and distribute their services and technologies to new markets in Cambodia.
The companies – AETINS, NetAssist, TESS International, and CALMS Technologies – are associated with the Global Acceleration and Innovation Network (Gain) and are run by the Malaysia Digital Economy Corporation (MDEC). All four firms have active operations in numerous foreign markets.
The signing ceremony will be held on Wednesday, and coincides with two separate initiatives by the Malaysian and Cambodian governments said a press release.
Malaysia aims to expand its companies and boost their interest in foreign markets as Cambodia plans to improve its ICT ecosystem to keep up with its robust gross domestic product growth, it said.
AETINS specialises in technology solutions for insurance and will build upon its already existing joint-venture partnership with IG Tech Group which began last July.
The group will act as resellers for NetAssist’s cybersecurity services, with a projected $500,000 per year valuation, it said.
According to the agreement, TESS International will work with IG Tech Group to access and market their solutions across the Mekong region, focusing on anti-money-laundering (AML) and anti-terrorism-financing (ATF) solutions which allow financial institutions to supersede AML and ATF regulations.
CALMS Technologies will provide cost-effective, industry-leading Smart-ID solutions, and will serve more than 600 organisations across various industries in the Asean region.
The agreement will see the four companies work with Cambodian IT firm IDEALINK Consulting Ltd on technology adoption in Cambodia’s education and commercial sectors.
MDEC Enterprise Development vice-president Gopi Ganesalingam said the corporation is excited to see more Malaysian “tech champions” join global innovators and market leaders in exchanging technologies and ideas.
“We’re confident our links with Cambodia’s digital sector will result in many creative solutions across various sectors, and we hope to see more of such developments take place as we keep moving forward,” he said.
These developments arrive strongly supported by Malaysia’s Ministry of Communications and Multimedia, with their robust support continuously being lent to MDEC’s initiatives to advance Malaysia’s digital sector and boost international recognition for its resourceful players.