KUALA LUMPUR (May 6): Information technology company TechnoDex Bhd has teamed up with Sweden-based Nordic Apiary Holding AB to jointly set up a Malaysia-Nordic-South East Asian value-added distributor (VAD) in Malaysia. In a bourse filing on Friday (May 6), ACE Market-listed TechnoDex said it has entered into a JV agreement with Nordic Apiary for the purpose. Under the JV, TechnoDex will market and resell software services in Malaysia, while Nordic Apiary will market the JV services and contract suitable European services and technology companies in the Nordics. TechnoDex said it will fund its investment in the JV company through internal funds. The proposed JV is expected to be completed by third quarter of this year, where the JV company will become a subsidiary of TechnoDex.
