Sino Hua-An partners with two companies to develop digitised model for agriculture markets
04 Mar 2020
Metallurgical coke manufacturer Sino Hua-An International Bhd, which recently ventured into the digital space, has partnered with two companies to develop a smart modelling farming project for agriculture markets.
Today, the company’s wholly-owned unit Wavetree Technologies Sdn Bhd has inked a Memorandum of Understanding (MoU) with agricultural company Top Fruits Sdn Bhd (TFSB) and anti-counterfeit solutions provider Mybeecop Sdn Bhd to collaborate and develop the Smart Modelling Farming project via a digitised model for agriculture markets, riding on AI-enabled operating models, data analytics and IoT to drive efficiency.
“The success of this collaboration will enable [Sino] Hua-An to participate in creating a digitalised model for the agriculture markets, riding on artificial intelligence-enabled operating models, data analytics and IoT to drive efficiency,” said Sino Hua-An in a filing with the local bourse today.
Through this partnership, TFSB will be providing the land, labour, durian crop and others for the management of the farming, while Wavetree will provide the IoT technology, software platform, data analytics and AI technologies for the digitalization of data capturing and the analysis of such data.
Mybeecop, on the other hand, will provide the traceability system, planning and operational advisory to the farming.
The MoU is not expected to have any material immediate effect on the company’s earnings per share, net assets per share and gearing for the financial year ending Dec 31, 2020.
Shares of Sino Hua-An closed half a sen or 6.25% lower at 7.5 sen today, valuing the company at RM84.17 million.
Source: The Edge Markets