PETALING JAYA: Radiant Globaltech Bhd is forming a joint venture with Thailand’s Simat Technologies to provide point-of-sales equipment and retail software solutions to retailers in Thailand.
The group said it had entered into a shareholders agreement with Simat Technologies PCL, Phenpuk Chintanapat, Thammanoon Korkiatwanich and Thanapoom Khetraksa to form a new special purpose vehicle company (SPV) in Thailand known as Rgtech Simat Co Ltd.
Simat is involved in enterprise data capture sector, namely distribution of hardware, software and maintenance services. Among Simat Technologies’ notable customers are F&B chains including Bonchon Chicken, Burger King, Swensens and The Coffee Club.
Radiant Group will invest THB4.9 million (RM662,000) for a 49% stake in the proposed JV company, while Simat Technologies will also inject THB4.9 million for its 49% share. The remaining 2% will be held by three individuals: Phenpuk, Thammanoon and Thanapoom.
The SPV will be used to undertake the business of sale of computer hardware, software, network equipment, development of information technology solutions and maintenance services in Thailand.
Radiant said it also aims to leverage on Simat’s existing expertise and clientele in Thailand to venture into Thailand’s F&B market.
