KUALA LUMPUR: Ceramic asphalt maker Yi-Lai Bhd is venturing into the advice technology (IT) business in affiliation with a aggregation controlled by its new controlling administrator and above actor Au Yee Boon.
Yi-Lai, in a filing with Bursa Malaysia today, said it has on Sept 8 entered into a collective adventure acceding with Au’s TechBase Solution Sdn Bhd to accompany new business in the acreage of blockchain and arrangement integration.
Yi-Lai said it would booty a 49% pale in the proposed collective venture, with Techbase captivation the actual 51% majority stake.
“The Group intends to alter its absolute businesses to accommodate the accouterment of IT Solutions, namely in the accouterment of blockchain technology and arrangement affiliation services,” it said.
“The New Business is accepted to accomplish added antecedent of assets to the Group, as able-bodied as to alter and aggrandize its balance base,” it added.
For the aboriginal six-month concluded June 30, Yi-Lai appear a accident of RM9.7mil on acquirement of RM32.7mil.
The aggregation had been authoritative anniversary losses back 2017.
Au was appointed as an controlling administrator at Yi-Lai on Aug 27 afterwards he emerged as the distinct better actor in the company.
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