16th Jun 2016 08:16
LONDON (Alliance News) - Vehicle-operator technology company Seeing Machines Ltd on Thursday said it has appointed Guardian South East Asia Pte Ltd to act as a non-exclusive distributor to market, sell and service Seeing Machines' Guardian driver fatigue and distraction intervention product in Singapore and Malaysia.
As part of the agreement, Guardian SEA has purchased 1,000 units on normal commercial terms, which Seeing Machines said is the single largest sale of Guardian units to date.
Guardian SEA is wholly-owned by electronics manufacturing services provider VS Industry Berhad, which holds a 12% stake in Seeing Machines.
Seeing Machines said it expects to capitalise on the "significant growth" in cross-border transportation of goods between Singapore, Malaysia and Thailand, as well as the "opportunity to protect passengers" using extensive public bus networks in Singapore and major cities in the region.
Seeing Machines said it has been actively working with Guardian SEA on opportunities in the public bus market, including by conducting joint product demonstrations with local public transport authorities.
"We're very excited to be working with the team at Guardian South-East Asia and formally expand our operations in the region. Their expertise and local relationships will help to protect not only drivers, but also millions of commuters who rely upon safe, efficient public transportation," Chief Operating Officer Paul Angelatos said in a statement.
Shares in Seeing Machines were trading up 2.4% at 3.20 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Seeing Machines