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SRKK AI Forms Local Subsidiary in Indonesia, Bags New Contract Worth $60,000

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Technology company SRKK AI (KLSE:SRKKAI) has expanded into Indonesia with the incorporation of a local entity named SRKK Consulting Indonesia and the securing of its first project worth $60,000, according to a Wednesday filing to the Malaysian stock exchanges.

The new limited liability company is wholly owned by SRKK Consulting, a wholly-owned subsidiary of SRKK AI.

The digital transformation solutions provider said the contract is for a data analytics and artificial intelligence project for a regional retailer in Indonesia and is expected to be completed in the first quarter of next year.

The new subsidiary has been formed to facilitate the company's future geographical expansion plans and operations of SRKK AI and its subsidiaries, including setting up an information technology advisory and consulting office in Jakarta, Indonesia.

The company's shares were up nearly 2% in Thursday's trade.

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