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TT Vision Holdings Bhd is cooperating with a Singaporean company to establish a manufacturing base in Malaysia, focusing on the production of automation equipment and software and hardware products in the solar field.
The two companies will establish a joint venture to be responsible for product research and development, production and sales, with an initial investment of RM166.66 million, of which RM24.99 million will come from TT Vision, accounting for 15% of the equity of the joint venture. Partner ASPL will invest the remaining RM141.61 million, accounting for 85% of the equity.
The joint venture, which will promote business diversification through foreign direct investment, is expected to be established within six months.
TT Vision has four business units: photoelectric inspection equipment, discrete component and integrated circuit inspection equipment, solar cell inspection equipment and vision-guided robotic equipment.
(Source: theedgemalaysia Image source: freepik)
