Malton Bhd has entered into a memorandum of understanding (MOU) with US-based provider Ricloud AI Inc to investigate the creation of artificial intelligence (AI) computing centers in Malaysia and collaboratively advance AI-related services throughout the region.
In a submission to Bursa Malaysia, the property developer stated that the suggested partnership aims to utilize Ricloud's position as an NVIDIA Cloud Partner (NCP) and its proficiency in AI infrastructure to draw international tech firms to set up AI compute centers in Malaysia prior to branching out into other Southeast Asian markets.
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In the suggested partnership, Ricloud will handle securing investors, offer technical expertise, furnish AI servers and NVIDIA GPU clusters, and will also engage in project financing when necessary.
Malton, in the meantime, will help investors find appropriate sites for the AI Compute Center, secure regulatory approvals and permits, and serve as the primary contractor for the building, testing, and commissioning of the AI compute centres and associated infrastructure.
The firm stated that the partnership will be executed on a best-efforts basis, with detailed terms to be discussed and formalized through final agreements once potential investors are found.
Ricloud is a cloud infrastructure provider utilizing AI to support AI firms, hyperscalers, and government organizations. As a certified NCP, it holds certification in NVIDIA Enterprise Software, Networking, and Compute, and has access to advanced NVIDIA technologies, such as GPU-accelerated clusters and AI enterprise applications.
“The MOU enables Ricloud and Malton to formalise their respective roles and intentions in relation to the proposed collaboration before proceeding further with the exchange of information and securing of potential Investors,” Malton says.
Malton stated that the initiative offers a chance for the group to take advantage of the increasing need for cloud services, AI-driven computing, and data centre facilities.
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The MOU will be valid for 12 months from the signing date, unless it is terminated sooner or replaced by a formal agreement between the parties.
Malton specified that the MOU is non-binding, apart from confidentiality commitments, and does not create a legally enforceable contract between the parties.
Consequently, the partnership will not affect Malton’s issued share capital, significant shareholders’ holdings, net assets, leverage, earnings, or earnings per share in the short term. The company stated that there are no interests concerning its directors, major shareholders, or affiliated persons regarding the MOU.
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Malton’s board stated that the partnership serves the company's best interest by enabling the group to engage in the increasing regional demand for AI infrastructure and advanced data center development.