Myeg And Philippines-based IPCVI Establish J-Venture Corp

KUALA LUMPUR, March 15 (Bernama) — MyEG Services Bhd and Philippines-based I-Pay Commerce Ventures Inc (IPCVI) have entered into a joint-venture agreement to establish a joint-venture corporation (JVC) in the Philippines.

The JVC is for the purpose of engaging in the business of development and implementation of electronic government services projects and provision of other electronic government related services.

In a filing to Bursa Malaysia today, MyEG said it would invest up to US$2 million (US$1=RM4.44) in three tranches, subject to certain milestones being achieved by the JVC…..

(Bernama)

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