CapAllianz Forms Singapore Unit to AI Technical Services to Chinese Tech Customer

MT Newswires05-28

CapAllianz Holdings (SGX:594) formed wholly-owned subsidiary, Future AI Tech, in Singapore to provide artificial intelligence technical services to China's Shenzhen Shoutou Industrial under a one-year technical service agreement, according to a Monday filing with the Singapore Exchange.

Future AI will provide technology development, system operation and maintenance, and project consulting to the China-based computer system technology services company, an earlier filing showed. In addition, it will deploy models, system functions, and technologies based on Shenzhen Shoutou Industrial's needs.

Shenzhen Shoutou Industrial agreed to pay Future AI service fees totaling SG$1 million, SG$380,000 of which was paid in advance, with the remaining SG$620,000 to be settled by the end of June, the filing showed.

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