Anzo to collaborate with Key Alliance for e-commerce hub

KUALA LUMPUR (June 7): Anzo Holdings Bhd said its wholly-owned subsidiary Harvest Court Properties Sdn Bhd (HCP) has entered into a collaboration agreement with DVM Innovate Sdn Bhd, a wholly-owned unit of Key Alliance Group Bhd, for the development of a proposed e-commerce fulfilment hub.

Under the agreement, HCP will be the prime contractor while DVM will be the project’s nominated contractor which will supply the requisite solutions, implementation, support maintenance and services specifically for the hub.

“The agreement is not expected to have any material effects on the share capital and shareholding structure of the company.

“However, it is expected to have positive contribution to the earnings per share and net assets per share of the Group should the agreement be subsequently commercialised,” said Key Alliance in a bourse filing today.

The hub will form part of the RM420 million gross development value car showroom centre and office towers project in Petaling Jaya, which will be developed by a joint venture between HCP and Captivate Max Sdn Bhd, as announced by Anzo on May 29.

Anzo rose 0.5 sen or 1.96% to close at 26 sen for a market capitalisation of RM81.94 million.

Key Alliance closed unchanged at 4.5 sen, giving it a market capitalisation of RM36.86 million. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.