Malaysian IT firm acquires IP rights from Chinese company

 Dataprep Holdings, a provider of IT goods and services in Malaysia, has agreed to pay RM15.5 million (US$3.7 million) to Chinese company Qingdao Xingyun Digital Technology (QXDT) for their intellectual property rights. 

In a filing with Bursa Malaysia, Dataprep stated that its technology partner, Zenith City Management Services (Sichuan), has agreed to pay QXDT in full for the acquired intellectual property rights in exchange for the sole use of the systems in Malaysia, Thailand, Singapore and Indonesia.

Zenith is a digital company that uses AI to transform urban environments. The firm specializes in designing and developing smart cities, providing intelligent solutions that use real-time data insights and predictive analytics to improve infrastructure, optimize traffic, increase energy efficiency and improve public safety.

According to Dataprep, the partnership with Zenith will support the rollout of digital infrastructure projects and help generate new revenue streams by providing value-added digital services and platforms.

This project includes the development and upkeep of underground telecommunications networks – such as ducting, manholes and microcell poles – for fibre-optic installations.

The system is currently being implemented in Indonesia’s Greater Bandung metropolitan region, where it aims to provide connectivity to approximately 2.76 million people. 

Dataprep noted that QXDT-developed assets include proprietary systems for community service platforms, smart property and Internet of Things (IoT) integration, mall membership platforms, supplier operations, points administration and artificial intelligence-powered digital wellness services. These also include AI health agent tools, integrated wellness management and AI-driven health monitoring.

On July 2, Dataprep’s share price climbed 10.53 percent to close at RM0.105 (US$0.02), giving the company a market value of RM85 million (US$20 million). However, the stock has fallen 25 percent year-to-date.