Strategos: Privasia buys 60% stake in Strategos Advisory, steps into smart lighting and IoT solutions

PETALING JAYA: Privasia Technology Bhd's wholly owned subsidiary Privanet Sdn Bhd is acquiring a 60% stake in Strategos Advisory Sdn Bhd (SASB) and has entered in a shareholders' agreement with SASB shareholders Ng Sau Foong and Mohamad Firhan Mohd Basheer for the purpose of regulating the relationship between the shareholders in SASB.SASB's principal activities are providing business management consultancy services, financial consultancy services and other service activities.Privasia said the proposed acquisition is to venture into the Malaysian market for the provision of electrical M&E, lighting services and Internet of Things (IoT) software development and to undertake the supply all forms of smart lightings including installation and electrical works; provide consultancy for all types of lighting, electrical networks and software infrastructure for IOT solutions.The exercise is also to provide and develop IOT related software for all IOT verticals; provide management consultancy to both government, public and private sectors in IOT related services; as well as provide monitoring and operations of IOT infrastructure for 5G access, public assets, transportation systems; weather management; surveillance system; natural disaster monitoring; advertising management; and other smart city solutions.Upon the completion of the proposed acquisition, Privanet will hold a 60% stake in SASB, while Ng and Mohamad Firhan will hold a 30% and 10% stake respectively."The new acquisition will enhance our market access into the smart lighting and IoT industry while utilising the Network Facility Provider licence owned by Privanet to create an additional revenue pillar to the group," Privasia said.