The strategic partnership between Lembaga Tabung Haji (TH) and Arcadia Acres Sdn Bhd in Theta Edge Bhd will strengthen Theta's financial performance as well as market position through new business collaborations for revenue growth and a stronger position in the technology industry.
Ultimately it will increase the value of TH’s investment in a situation that benefits both parties.
TH has signed a partnership with Arcadia Acres, a wholly -owned Bumiputera company, as part of its plan to increase the value of its investment in Theta Edge.
Arcadia which has a strong performance in the IT technology industry will acquire a 30.3% equity stake in Theta making it the second largest shareholder in the company involved in the integration of IT systems and telecommunications engineering services.
TH however, will continue to be Theta’s largest single shareholder with an equity interest of 38.4%.
According to TH Chief Executive Officer Datuk Nik Mohd Hasyudeen Yusoff said in a statement stating that they welcome Arcadia Acres as a strategic partner in an effort to ensure the stability and growth of Theta.
Meanwhile, Arcadia director Zainal Abidin Jalil said the company had shown a track record at Dagang Nexchange Bhd where it became the largest single shareholder driving the strategic transformation from a former government -linked company to an entrepreneur -driven company with a core business in IT /e -service and energy.
He noted that they have a proven track record of working with TH in improving the business to capitalize on market demand for innovative solutions.
