November 1

Datasonic, Meta Doers form JV to explore opportunities in Metaverse-related projects by The Edge


KUALA LUMPUR (Nov 1): Datasonic Group Bhd has signed a memorandum of understanding with Meta Doers World Holding Bhd to form a joint venture (JV) company to explore business opportunities related to Metaverse.

In a statement on Tuesday (Nov 1), Datasonic said its collaboration with Meta Doers marks its foray into the Metaverse world focusing on the education sector and healthcare industry.

Datasonic executive chairman Datuk Abu Hanifah Noordin said Datasonic’s target markets are primary and secondary schools,
higher education and training agencies in Malaysia and Asean countries.

“Datasonic has an excellent track record in many mission critical national projects. Datasonic has been producing one of the best of the best international passports in the world,” he said.

Meta Doers is part of the Doers Education Group, a specialist in online and offline education, and Metaverse project consultancy. It is also involved in advisory services, focusing on six core business sectors — education, health, food, entertainment, energy and shelter industry. Doers Education Group has a presence in China, Hong Kong, Macau, Taiwan, Malaysia, Singapore, Thailand, Brunei, Indonesia, Philippines and Canada.

“Through the setting up of a 60:40 joint venture company, we will leverage on the expertise and competitive strengths of both parties to develop a world class 3D virtual classroom where students can virtually meet and interact with classmates and teachers to achieve optimum learning outcomes,” Abu Hanifah added.

According to a report by McKinsey & Company, investment in Metaverse globally has increased from US$57 billion in 2021 to US$120 billion as of June 2022.

Shares of Datasonic gained 1.96% to 52 sen, which translates to a market capitalisation of RM1.54 billion.

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