KUALA LUMPUR (Jan 9): Shares in Radiant Globaltech Bhd rose 3.33% this morning after the firm announced that it has entered into a joint venture (JV) with Thailand’s Simat Technologies Public Company Ltd to provide point of sales equipment and retail software solutions to retailers in Thailand.

At 9.05am, Radiant Globaltech rose 1 sen to 31 sen, valuing it at RM162.81 million.

The JV company, named Rgtech Simat Co Ltd, will be a special purpose vehicle (SPV) to undertake the business of selling computer hardware, software, network equipment, development of information technology solutions and to provide maintenance services in Thailand. The SPV will distribute a range of front-end retail hardware and provide back-end retail software solutions to retailers.

Radiant Globaltech said it will fund its THB 4.9 million (equivalent to RM700,000) investment in the SPV for a 49% stake with cash from internal funds. Simat, meanwhile, will inject the same amount into the SPV for its 49% share.