Appasia (KLSE:APPASIA) unit AppAsia Cloud inked a memorandum of understanding with CMSC to set up a joint special purpose venture entity, according to a Monday Malaysian bourse filing.
The joint special purpose venture entity will explore business opportunity of services of provision of integrated circuit design covering IC front-end design, back-end design, and turnkey services.
The collaboration is part of the company's strategic expansion into the semiconductor industry, particularly in IC design, it noted.
AppAsia's shares fell over 3% recently.
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