KUALA LUMPUR: Privasia Technology Bhd
’s indirect subsidiary, Privabytes Sdn Bhd, has signed a memorandum of agreement (MoA) with Mara Incorporated Sdn Bhd (Mara Inc) and Felcra Bhd to collaborate on the development, construction and operation of a data centre on Felcra’s land in Bagan Datuk, Perak.
Privabytes was formerly known as Digital Medtech Solutions Sdn Bhd.
In a filing with Bursa Malaysia yesterday, Privasia said Felcra will participate in the collaboration by leasing its land in Bagan Datuk to a special-purpose vehicle for the project.
The company also stated that the project will involve multiple phases, including site selection, design and planning, construction, infrastructure and information and communication technology deployment, and operational management.
“The MoA is to outline the collaborative framework and mutual understanding between the parties in relation to the parties’ obligations prior to the execution of the joint venture agreement and the lease agreement in ensuring the successful completion and operation of the project,” it noted.
Privasia added that Mara Inc and Felcra will negotiate in good faith to finalise and sign the definitive agreements within six months from the MoA’s signing date, or within an extended period mutually agreed upon in writing.
The company does not foresee any exceptional risks other than execution risks, political risks, pandemic risks and country risks associated with the MoA. — Bernama
