Theta Edge Berhad Signs MOU with ZICT toExplore Smart City
Development in Malaysia
Kuala Lumpur, November, 2024 – Theta Edge Berhad (“Theta Edge” or “the Company”), a prominent player in Malaysia’s technology sector, is pleased to announce the signing of a Memorandum of Understanding (MOU) with ZICT Technology Co., Ltd. (“ZICT”), a leading international technology investment firm. This strategic partnership aims to explore potential investments by ZICT into the development of Smart City projects in Malaysia, with a particular focus on the Ampang Jaya Smart City concession secured by Theta Edge Berhad in July 2024.
Driving Smart City Innovations in Malaysia
The collaboration between Theta Edge Berhad and ZICT underscores a shared commitment to accelerating the digital transformation of urban areas in Malaysia. By leveraging Theta Edge’s extensive expertise in technology and smart city solutions, alongside ZICT’s strong investment capabilities and technological acumen, the partnership aims to deliver innovative, sustainable, and people-centric smart city solutions that will enhance the quality of life for residents.
The Ampang Jaya Smart City project, the centrepiece of this MOU, is set to transform Ampang Jaya into a fully integrated and connected urban environment. This project will encompass advanced infrastructure, smart mobility, energy-efficient systems, and enhanced public services, positioning Ampang Jaya as a model for future smart city initiatives in Malaysia.
Aligning with Theta Edge’s Vision and Mission
This strategic MOU with ZICT marks a significant milestone in Theta Edge’s journey towards realizing its vision of becoming a leading enabler of digital transformation in Malaysia and beyond. The collaboration aligns seamlessly with the Company’s mission to deliver innovative solutions that will drive socio-economic growth, empower communities, and foster sustainable development.
“Partnering with ZICT provides us with a unique opportunity to combine our technological expertise with their substantial investment capabilities, enabling us to scale our smart city initiatives and create more impactful, future-ready urban environments,” said Datuk Nuraslina Zainal Abidin, Group Managing Director & Chief Executive Officer of Theta Edge Berhad. “This MOU is a testament to our commitment to spearheading smart city development in Malaysia, particularly through strategic partnerships that bring together technology, investment, and a shared vision for sustainable urban growth.”
Expanding Smart City Capabilities and Impact
Through this collaboration, Theta Edge Berhad and ZICT aim to explore opportunities that will not only advance the Ampang Jaya Smart City project but also expand the scope of smart city developments across Malaysia. The MOU will enable both parties to explore innovative solutions in areas such as Internet of Things (IoT), big data analytics, artificial intelligence (AI), and sustainable energy management, driving the growth of smart urban infrastructure.
Theta Edge is committed to leveraging technology to create smarter, safer, and more sustainable cities. This partnership with ZICT strengthens our ability to deliver on this promise, bringing us closer to achieving our strategic goals,
Looking Ahead
The MOU signifies the beginning of a collaborative journey between Theta Edge Berhad and ZICT, aimed at exploring transformative projects that will set new benchmarks for smart city development in Malaysia. With the Ampang Jaya Smart City project as a launchpad, both organizations are poised to drive significant progress in the country’s digital infrastructure landscape.
Theta Edge Berhad and ZICT will work closely over the coming months to identify potential areas of collaboration, investment frameworks, and technological innovations that can be deployed to optimize smart city projects in Malaysia. This partnership is expected to generate not only economic benefits but also social and environmental impacts, contributing to Malaysia’s aspiration of becoming a smart and sustainable nation.
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