PETALING JAYA: Nexgram Holdings Bhd is partnering with China’s optical cables and wires manufacturer, Jiangsu Tongguang Optical Cable Co Ltd (JTOCC), to carry out all-round operations in the field of wire and cable maintenance and other strategic partnership cooperation in South East Asian countries.
JTOCC is the subsidiary of Jiangsu Tongguang Electronic Wire & Cable Co Ltd. Its products are widely used by foreign countries worldwide such as Sudan, Ethiopia, Nigeria, Australia, UK and Russia.
Nexgram told the stock exchange, it has entered into a strategic cooperation framework agreement (SCFA) with JTOCC for the partnership, which includes products research and development, distributions, projects joint venture, maintenances and supports.
In the first year of the SCFA, Nexgram said it will be the sole distributor and hub for JTOCC in the Malaysia market.
The group said its long-term strategic business representatives in South East Asia, especially in Indonesia, Thailand, Philippines, Vietnam, and Malaysia, provides support for JTOCC South East Asia expansion plan.
Nexgram is involved in telecommunication, software, surveillance, real estate and infrastructure business investment.
The group, which was the second most active counter, closed one sen or 25% higher at 5 sen, with 127.6 million shares traded.