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KUALA LUMPUR: TFP Solutions Bhd
's unit ProDserv Sdn Bhd has entered into a joint venture agreement with Maestrosoft Ltd to undertake IT-related business in Bangladesh and worldwide.
TFP said the companies will establish a joint venture company in Bangladesh, which will among other things,import and export IT products as well as offer IT services.
ProDserv is principally involved in the IT services business while Maestrosoft is a Bangladesh-based company involved in software development.
According to the announcement on Bursa Malaysia, ProDserv will own 55% stake in the JV company while Maestrosoft will own the remaining 45%.
"TFP intends to expand its market reach to Bangladesh, to capitalise on Bangladesh’s growing demand for technology solutions.
TFP will leverage on its technology capabilities, developed in the Malaysian market, to capture opportunities in Bangladesh in business management solutions including campus management system, human resource management and ERP, as well as in converged infrastructure solutions. This is expected grow the Group’s revenue," it said in the filing.
