Iris Corporation announced that Iris Tech Ventures Sdn Bhd, a wholly owned subsidiary entered into a Shareholders’ Agreement with Singapore based Aitken Spence International Pte Ltd,to regulate the rights and relationship between the two parties,
Both agreed to form a joint venture company and to bind each other to their obligations upon the terms and conditions stipulated in the SA.
The Joint Venture is expected to pave way for business collaboration between the Parties which is consistent with the objectives of IRIS in seeking strategic alliances from time to time for mutual benefits.
Among the of the jv include terms to collaborate in forming the Joint Venture in Sri Lanka as an Offshore Company to carry out business as a service provider of outsourcing of business processes in the Colombo Port City Special Economic Zone in Sri Lanka.
The parties also agree for the JVCo is to have an equity shareholding structure of ITV: 50% and ASI: 50% during the entire duration of the SA.
