ISOTeam, a building maintenance and estate upgrading company, is collaborating with HOMA2U (H2U), a home improvement retail company from Malaysia on building material-matching and overstock solution platform.
H2U is a subsidiary of HOMA, a Malaysian company managing new materials and overstocks in the building material industry.
The group explains that the collaboration is to reduce waste and add value to businesses in the construction industry. The platform that the two will collaborate on will provide an avenue for the sale of building materials and overstock.
Both companies intend to leverage AI to create the platform. ISOTeam’s BuildTech, a wholly-owned subsidiary that is working to commercialise indoor painting robots, autonomous facade washing and painting drones, will provide network access to construction industry and market insights.
The collaboration will take place for 12 months, and the profit sharing arrangement shall be 80%-20% between H2U and ISOTeam BuildTech respectively. The collaboration will be fully funded by HOMA.
Shares in ISOTeam closed 0.1 cent higher or 1.449% up at 7 cents on Feb 14.
