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INVESTMENT AGREEMENT WITH KIWITECH SDN BHD FOR DEVELOPMENT OF CITY SURVEILLANCE INFRASTRUCTURE IN SMART CITIES 10 December 2020, VentureTECH, Cyberjaya
VentureTECH announced its debut in the smart city industry by inking an investment agreement with Kiwitech Sdn Bhd (Kiwitech), a Bumiputera company offering Internet of Things (IoT) based application for city surveillance services to further enhance their proprietary Smart City Digital Platform. Kiwitech is a pioneer of Smart City Super Platform in Malaysia, with an aim to boost the security levels of city infrastructures by providing leasing services of its city level surveillance assets which include CCTV and multi- function smart pole. The investment echoes Malaysia’s rapid urbanisation that has resulted in the need for and implementation of smart cities to create sustainable cities and communities as propagated also by MIGHT. VentureTECH’s investment in Kiwitech will not only support the transformation of Malaysian cities into smart cities by way of Public-Private Partnership, but
also aims to accelerate the implementation of IR4.0 applications at platform level and harnessing skilled Bumiputera and local talents and expertise in enhancing the current Smart City Digital Platform. Presently Kiwitech is serving 28 out of 52 local authorities in Malaysia, resulting in a 50 percent market share in Malaysia, and has footings in three of five pilot cities identified in the Malaysia Smart City Framework. The Investment Agreement was signed by Dr. Norida Abd Rahman, Managing Director of VentureTECH and Mr. Azrin Abu Bakar, Managing Director of Kiwitech, and witnessed by Chairman of VentureTECH, YBhg Datuk Ir. Khalilur Rahman Ebrahim. Also present were Mr. Ahmad Redzuan Sidek, Chief Investment Officer of VentureTECH and Datuk Nik Ahmad Faizul Abdul Mallek, Advisor to Kiwitech.
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