KUALA LUMPUR: Oasis Home Holdings Bhd has via its wholly-owned subsidiary Oasis Wellness International Sdn Bhd has agreed to a joint venture with GIMCare (M) Sdn Bhd to develop and market wellness products and other related businesses.
According to Oasis Home's filing with the stock exchange, GIMCare, a wholly-owned subsidiary of GIM Media Sdn Bhd, is principally engaged in trading and e-commerce services for various goods and services.
Under the terms of the agreement, Oasis Wellness will have a 51% stake in a newly established JV company while GIMCare will own the remaining 49%.
"The proposed joint venture represents a strategic initiative to support Oasis Home Holding and its subsidiaries in their continued expansion in the wellness segment.
"By leveraging on GIMCare’s marketing expertise and established e-commerce presence in Malaysia, this collaboration aims to accelerate the group’s brand penetration and broaden the group’s customer base," said the Oasis Home.
