Karin Technology has incorporated a Hong Kong cloud services firm, MasterKloud, while GKE Corporation and GushCloud have launched joint ventures (JVs).
Karin Technology incorporates Hong Kong JV
Karin Technology Holdings has entered into an agreement with Hong Kong-listed Masterson Technology to incorporate a new private company called MasterKloud Technology.
Karin Technology will subscribe to a 20 per cent stake in MasterKloud for HK$100,000 (S$17,189) while Masterson will subscribe to the remaining 80 per cent stake for HK$400,000. The new joint venture (JV) will provide cloud-related technology services and the hosting of cloud solutions for corporations and enterprise customers.
Karin Technology says the transaction is not expected to have any material impact on the group’s earnings per share and net tangible assets per share for the financial year ending June 10, 2018.
GKE Corporation launches JV
Logistics providers GKE Corporation and Kleio One-Solution have set up a JV called G-Chem Logistics for a total consideration of S$460,000. The partnership will see both firms provide hazardous chemicals warehousing and logistics services for packed products, laden ISO Tanks, and chemical drumming.
GKE will invest cash amounting to S$300,000 for a 65 per cent stake in G-Chem while Kleio will subscribe to the remaining 35 per cent stake for S$160,000.The total subscription consideration will be used to fund the purchase of four units of explosion-proof pallet drum filling machines for its business activities, as well as for working capital.
“This joint venture will further strengthen the group’s hazardous chemical storage and logistics capabilities – broadens our range of services and transforms the group into a one-stop integrated chemical storage and logistics service provider to serve both the chemical and pharmaceutical sectors in Singapore,” says Neo Cheow Hui, CEO of GKE, on the joint investment in G-Chem.
GushCloud launches Vietnam JV
Gushcloud Agency, the marketing group at Gushcloud International, and YAN Digital, the digital arm of Vietnam-based YAN Media Group, have launched a new JV — GY Entertainment — for influence management and marketing.
Headed by Ng Siang Hang, CEO of Gushcloud Agency, the new JV aims to leverage YAN Media Group’s leading youth presence via YAN TV in Vietnam’s entertainment industry and Gushcloud International’s regional network.
The JV aims to manage and represent the top digital influencers and creators in Vietnam and connect them with global brands to reach out to the Vietnamese millennial audience. GY Entertainment will be managing digital influencers, creators and talents within the Gushcloud and YAN Digital roster. The company will also focus on helping global brands reach out to the Vietnamese audiences through these influencers’ and creators’ digital platforms.