The Media Shoppe inks collaboration agreement with Hopetech

KUALA LUMPUR (Feb 3): THE MEDIA SHOPPE BHD [] has inked a collaboration agreement with Hopetech Sdn Bhd under which Hopetech would be granted access to several projects.

TMS said on Friday that under the agreement, the projects could be undertaken by Hopetech by itself or with the assistance of TMS, in the areas of technical and funding support.

The company said Hopetech would be the main identifier of projects which require TMS’ input and participation.

The parties would then mutually decide on the best possible way to tap into each others’ intellectual property in order to carry out the execution of the project in the most efficient and optimum manner, it said.

TMS chief executive Christopher Chan said that under the agreement, both TMS and Hopetech had the option of a joint venture structure where they may enter into negotiations for the setting-up of a joint venture company should both companies agree to proceed with the project.

The agreement would be valid for a duration of 12 months unless terminated earlier, he said in a statement Friday.

Chan said Hopetech wou;d be responsible for identifying and pursuing projects including governmental projects whether local or overseas.

Hopetech will also be responsible for the preparation of any submission and pitching to the awarding party and to identify any funding requirements pursuant to the said projects, he said.

Chan said that TMS, on its part, would assist Hopetech in the latter’s pitching and submission and undertake relevant portions of the projects including assisting to raise or procure funding (whether through itself or through a third party) to carry out the said projects.

“Under the agreement, each company will be allowed to cross invest in the other company.

“Both TMS and Hopetech believe that they can mutually benefit from entering into a Collaboration Agreement to work together,” he said.