Opcom, Global Forway agrees to terminate 5G sector collaboration

KUALA LUMPUR: Opcom Holdings Bhd and Global Forway have agreed to mutually terminate their collaborative agreement concerning projects in the 5G sector due to being unsuccessful in securing intended contracts.

In a filing with Bursa Malaysia today, Opcom said the termination of the collaboration agreement does not contravene any of the agreement's provisions.

"The board is also of the view that the termination of the agreement will not have any material financial impact on the company and its subsidiaries," it added.

To recap, Opcom, in its Bursa Malaysia announcement on Oct 22, 2021, said that it entered into a collaboration agreement with Global Forway to form a 60:40 joint venture company (JV) called Opcom Vision Sdn Bhd in a move to push into the 5G sector.

In the announcement, it shared that Global Forway had the necessary licences and expertise for Opcom to expand its suite of services to include value-added services.

"These services include connectivity services involving dedicated internet access, and point-to-point leased lines, security services such as managed security monitoring, as well as data centre services encompassing co-location services and data centre internet access to cloud services," it said. - Bernama