Eduspec, Industronics ink MoA to set up SPV for supply of school hardware

KUALA LUMPUR: Eduspec Holdings Bhd has entered into a memorandum of agreement with Industronics Bhd to set up a special purpose vehicle company to offer electronic hardware and school equipment to over 10,000 schools in Malaysia by way of instalments, leasing or rental.

In a bourse filing, Eduspec said it the core role of Industronics would be to supply electronic products for online education and secure funding for the joint venture while Eduspec will play a major role in operations, penetrating markets, sales and marketing.

It said the educational institutions and schools will be required to invest more on hardware and software to enable online or hybrid learning alternatives given how the pandemic has changed the delivery of teaching and learning.

"This MOA is expected to enable the JV to capture a big portion of this market as we will be able to assist educational institutions/schools that lack the immediate financial resources by allowing them easier payments or rental options," it added.