23-04-2025
Ramssol Inks Deal With King Mongkul Institute For AI And Digital Solutions
RAMSSOL Group Berhad has announced that its indirect subsidiary, Geekstart Company Limited, has entered into a Strategic Partnership with King Mongkut's Institute of Technology Ladkrabang in Thailand to develop Artificial Intelligence (AI) and digital technology solutions. The group said the solutions are intended to serve the government sector and private organizations in Thailand and internationally.
Geekstart, a digital technology company specialising in software development for web, mobile, and Internet of Things (IoT) applications, will collaborate with KMITL, a leading Thai university renowned for its expertise in AI, software engineering, digital technology, and Industry 4.0.
The key objectives of the partnership include promoting technology and innovation development, strengthening collaboration between academia and industry, supporting technology knowledge development through training, collaborating on technology and digital projects, developing business opportunities in the technology industry, and promoting investment and market expansion for Thai-developed technologies.
Under the agreement, Geekstart will be responsible for developing and delivering technology solutions, project management, technical services, client support, and market expansion. KMITL will contribute with knowledge and research support, personnel and expertise, infrastructure and academic resources, collaboration with government and private agencies, customer base and business opportunities expansion, and assistance in fundraising and obtaining financial support.
The agreement also outlines the terms for intellectual property rights, stating that pre-existing intellectual property remains with the respective party, while intellectual property rights arising from joint activities will be jointly determined.
The partnership is set for an initial term of five years, with the possibility of extension by mutual agreement. The agreement can be terminated under specific conditions, including mutual agreement or a 90-day written notice by either party.
RAMSSOL believes that this strategic partnership aligns with its business strategy to expand its software development technology business, providing an additional revenue stream and enhancing the Group's earnings. The company does not anticipate any material risks from the agreement, beyond normal operational risks.
While the agreement is not expected to have a material effect on RAMSSOL's earnings per share, net assets per share, gearing, share capital, or substantial shareholders' shareholdings for the financial year ending December 31, 2025, it is expected to contribute positively to the Group's earnings during its term.
The Board of RAMSSOL believes that the agreement is in the best interest of the Group. The agreement does not require approval from any regulatory authority or RAMSSOL's shareholders. Related
