Property Insight > News release > “SPNB Dana & M N C Wireless Sign MoU to form Equity Joint Venture and appointment of Digital Technology Solutions Partner”

“SPNB Dana & M N C Wireless Sign MoU to form Equity Joint Venture and appointment of Digital Technology Solutions Partner”

Kuala Lumpur, August 28, 2017 – SPNB Dana SB (“SPNB Dana”), financing arm of Syarikat Perumahan Negara Bhd (“SPNB”) and M N C Wireless Bhd (“MNC Wireless”), a digital technology solutions specialist, signed a Memorandum of Understanding (“MoU”) here today.

Under the terms of the MoU, an Equity Joint Venture company will be formed to provide financial support for home buyers of SPNB’s affordable housing projects and MNC Wireless will be appointed as the digital technology solutions partner for SPNB Dana.

This is in line with SPNB’s digital transformation road map, to further enhance its customer and business partners engagement management, with a greener footprint and improved business processes lead time, of its product and services offerings, to ultimately make housing affordable for the rakyat(people).

The digital platform will comprise of a Business-to-Consumer (“B2C”) focused platform for the rakyat(people) and home owners of SPNB’s housing projects, and a Business-to-Business (“B2B”) focused platform for SPNB’s business partners. It will be mobile and web-based, with user-friendly navigation flows that enhances engagement levels, which allows for a more comprehensive and quick access to information on SPNB’s projects, couple with an infotainment platform engine having online marketing capabilities, social media features, short messaging capabilities, integrated payment solutions and broadcasting solutions, amongst others. 

Datuk Dr Haji Abdul Latiff Ahmad, Chairman of SPNB, at the signing ceremony said: “Our aim is to help the rakyat (people) to own a place to call home. This equity joint venture partnership serves this purpose and will enable us to further support our home buyers and digitalize our business processes and enhance customer and business partners engagement management, as part of SPNB’s digital transformation road map.

Hilmy Abdul Malik, CEO of SPNB Dana, further shared on SPNB Dana’s role as the financing arm of the Group in supporting the Group’s digitalization initiatives as the partnership with MNC Wireless was based upon the latter’s proven track record as a digital technology solution specialist.

“As part of the MoU, MNC Wireless will develop a user-friendly & hassle-free digital platform for SPNB’s customers and business partners.”, Hilmy said.

SPNB Dana is wholly-owned by SPNB, which is in turn wholly-owned by Ministry of Finance Incorporated, and under the supervision of the Ministry of Finance.

MNC Wireless CEO Christopher Tan said: “We are pleased to have secured the confidence and support of SPNB, in providing our digital technology solution services to support SPNB’s digital transformation road map and the national agenda of making housing affordable for the rakyat (people).”

“MNC Wireless is keen to form strategic joint ventures and partnerships that fit with its business with its capabilities and drive revenue streams to the company.”, Tan said. 

MNC will ink a conditional agreement with mTouche Technology Berhad (“mTouche”), an ACE Market (Bursa Malaysia) listed company, for the development of said digital platform on 28th August 2017.

Both parties to the MoU, agrees that this collaboration is expected to lead to positive contributions to both parties businesses.

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