Under the JV, KABTEL will hold a 60% stake in the JV company and MRH the remaining 40%. MRH, which is 99.9% owned by Mohamad Ezzul Na'im Mohd Roahizee and 0.1% by Mohd Rohaizee Hashim, operates a network of multi-operator telecoms towers and provides facilities and services relating to maintenance of telecoms towers, owns the telecoms structure and fibre for in building coverage. "The JV marks a significant milestone in the development of telecoms infrastructure and telecoms services business for the group's strategy on expanding the group's recurrent income in other ways," said KAB. "The term sheet is not expected to have any material effect on the group's earnings and earnings per share for the financial year ending Dec 31, 2022, but is expected to contribute positively to the group's future earnings and earnings per share," it added. "MRH has also entered into a memorandum of understanding with a local established telecoms operator for joint business participation and cooperation over digital connectivity and infrastructure development for the 1,342 sites," it added.

Source: The Edge Markets April 20, 2022 12:54 UTC