AppAsia Aligns With CMSC To Create Additional Income Stream

AppAsia Berhad (AppAsia) entered into a Memorandum of Understanding (MOU) today with CMSC, Inc. (CMSC) to set forth their mutual intentions in establishing a framework for a joint special purpose venture entity (SPV) to explore services and provisioning integrated circuit design covering IC front-end design, back-end design, and turnkey solutions in Malaysia.

In a Bursa Malaysia listing today, both parties shall negotiate towards a Proposed Collaboration to venture into and undertake the Services, which will create additional income stream to AppAsia via and to set out mutual understanding and agreement on certain terms and conditions.

The Proposed Collaboration is part of the AppAsia’s strategic expansion into the semiconductor industry, particularly on IC design, aiming to diversify its business activities. By leveraging the combined expertise and resources of both the Company and CMSC, the Proposed Collaboration seeks to seize opportunities and optimise value for its shareholders.

AppAsia Berhad is a provider of mobile applications, digital content, e-commerce, IT security, and cloud solutions in Malaysia. They specialise in blockchain technologies, advanced mobile applications, digital content, e-marketplaces, big data, and artificial intelligence technologies. AppAsia is also known for its IT security and cloud technologies and aims to create shareholder value, incubate talent, and become a leader in the regional digital community.

CMSC is currently a listed company on Taiwan Emerging Stock Market and headquartered in Hsinchu Science Park, Taiwan.

CMSC is principally involved in the provision of IC design services and solutions. It has the necessary expertise, skills, technical know-how and experience in the provision of IC design services covering front-end design, back-end design, and turnkey solutions.

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