KUALA LUMPUR: SMTrack Bhd is inking a joint venture with Madyna Global LLC for the purpose of acquiring Gold Moon DTT, a hospitality and event management fim in Mongolia.
Madyna is an advisory service providers, which facilitates international trade between Mongolia and global markets.
According to SMTrack's stock exchange filing, Madyna has extended its expertise to the food and beverage segment.
Gold Moon DTT, meanwhile, is the owner of Z Terra brand and operates Z Terra Event Hall, one of the largest rooftop event venues in Ulaanbaatar, Mongolia, which caters for various
corporate, social and lifestyle events.
SMTrack and Madyna shall incorporate a special purpose vehicle, which will be be 90:10 owned by the respective companies, for the proposed acqiusition of Gold Moon DTT.
"The proposed joint venture is expected to enhance the future earnings of the company," said SMTrack.
