Malaysia tech firm K-One to set up cloud computing joint venture in Vietnam
Malaysia’s K-One Technology, a partner of Amazon Web Services, Google, Microsoft and Alibaba, is in the process of setting up a cloud computing joint venture in Vietnam.
The tech solutions provider has proposed Ho Chi Minh City-based VietNet Distribution JSC to form the venture with its wholly-owned subsidiary G-AsiaPacific Sdn Bhd, K-One said in a release Thursday, adding that the two sides had entered a term sheet.
Cloud computing is the sector Malaysia’s K-One Technology set sights on in Vietnam. Photo courtesy of medium.com
The new entity’s proposed name is G-AsiaPacific (Vietnam) Limited Liability Company, and the capital contribution plan is 51% from the Malaysian side and the balance from the Vietnamese partner. The parties shall execute the definitive agreements - the joint venture deal and shareholders’ agreements - no later than November 30, 2022, according to K-One.
K-One states it is partnering with Amazon Web Services, Google, Microsoft and Alibaba to deploy cloud solutions and services to local and regional enterprises in Southeast Asia, and the proposed joint venture is in line with its ongoing regional cloud business expansion.
The cloud computing market in Vietnam is one of the fastest growing in the region, driven by its accelerating digital transformation, according to K-One. Besides, Amazon Web Services, Google and Microsoft have established their big footprints in Vietnam for good reasons.
Under the K-One proposal, Vietnet Distribution would focus on developing the business through its wide network, while G-AsiaPacific would provide technical support.
VietNet was established in 2011 in HCMC as a value-added distributor of cybersecurity solutions. It also runs offices in Hanoi, Cambodia, and Malaysia. The firm says it partners with leading cybersecurity vendors like Fortinet, McAfee, Keysight, Netscout, PTC, LogRhythm, D3Security, Menlo, Radware, and others.
- Related News
- Read More
Northern Vietnam province determined to break ground on LNG-fueled power project in Sept
A $2.56 billion LNG-fueled power project in the northern province of Hung Yen is set to break ground in September, local authorities reaffirmed.
Energy - Fri, July 25, 2025 | 10:19 pm GMT+7
State-owned giant Petrovietnam seeks to develop eco-energy, industrial center
Petrovietnam is studying a large-scale eco-energy and industrial center project in the country which will be a vital driving force of the group's future development and "a matter of survival", said chairman Le Manh Hung.
Energy - Fri, July 25, 2025 | 3:23 pm GMT+7
Standard Chartered puts Vietnam's 2025 growth forecast at 6.1%, country aims for 'at least 8%'
Standard Chartered has revised its 2025 GDP growth projection for Vietnam to 6.1%, down from 6.7% early this year.
Economy - Fri, July 25, 2025 | 2:51 pm GMT+7
Malaysia strives to transform Kuala Lumpur into flagship AI-driven smart city
Malaysia identifies AI as a key strategic driver to turn Kuala Lumpur into its leading smart city towards a livable, sustainable urban model and enhancing its competitiveness in ASEAN, according to Malaysian Digital Minister Gobind Singh Deo.
Southeast Asia - Fri, July 25, 2025 | 1:50 pm GMT+7
Bridgestone holds 25% of Vietnam’s passenger tire market: exec
Vietnamese consumers purchase approximately 3 million passenger tires annually, with Bridgestone holding a 25% share of the market, said Nguyen Ngoc Dung, senior national sales manager for the passenger tire group at Bridgestone Vietnam.
Companies - Fri, July 25, 2025 | 1:43 pm GMT+7
Vietnam securities firms see diverging profits in Q2
The top 10 securities companies on the Ho Chi Minh Stock Exchange (HoSE) experienced mixed earnings in Q2 amid the strong rebound of the benchmark VN-Index.
Finance - Fri, July 25, 2025 | 12:55 pm GMT+7
Vietnam's retail space market rebounds after massive crackdowns on counterfeit goods
The presence of numerous international brands in Ho Chi Minh City and Hanoi signals that Vietnam's retail market remains attractive, and following a wave of authorities' crackdowns on counterfeit goods, consumers are expected to benefit from a more sustainable market.
Real Estate - Fri, July 25, 2025 | 10:46 am GMT+7
Vietnam's plastics heavyweight Tien Phong sees record-high quarterly profit
Tien Phong Plastic JSC, a top plastics manufacturer in Vietnam, posted an after-tax profit of VND320.5 billion ($12.26 million) in Q2/2025, up 34.5% year-on-year and an all-time quarterly high.
Companies - Fri, July 25, 2025 | 9:00 am GMT+7
VinFast partners with 12 major banks to accelerate green transport in Hanoi
Vietnamese electric vehicle maker VinFast, a subsidiary of Vingroup, on Thursday signed a cooperation agreement with 12 financial institutions to promote the transition from gasoline-powered vehicles to electric ones in Hanoi.
Companies - Thu, July 24, 2025 | 10:43 pm GMT+7
Thailand submits final proposal in tariff talks with US
Thailand has entered the final stage of negotiations with the U.S. on tariffs, hoping to achieve a tax rate that is competitive with regional partners before the August 1 deadline.
Southeast Asia - Thu, July 24, 2025 | 10:39 pm GMT+7
Vietnam’s expressway giant VEC lands huge state capital boost
State-owned expressway developer Vietnam Expressway Corporation (VEC) has seen its charter capital rise by over VND37.5 trillion to VND38.62 trillion ($1.48 billion) this year, as per a decision signed by Minister of Finance Nguyen Van Thang.
Companies - Thu, July 24, 2025 | 10:26 pm GMT+7
Vietnam’s food giant Kido to acquire 41% stake in operator of HCMC mall
Kido Group (HoSE: KDC), a leading food company in Vietnam, has announced its plan to acquire a 41% stake in Bac Binh Construction Investment JSC, the operator of Van Hanh Mall – one of the largest shopping centers in Ho Chi Minh City.
Real Estate - Thu, July 24, 2025 | 10:14 pm GMT+7
Vietnam remains Nike’s biggest manufacturing hub for 3rd year in row
Vietnam remains Nike’s largest manufacturing base globally for the third fiscal year running, according to the U.S. sportswear giant’s annual report for fiscal year 2025 ending in May.
Companies - Thu, July 24, 2025 | 4:24 pm GMT+7
Gia Binh to be northern Vietnam’s largest airport as scale largely revised up
Gia Binh International Airport in Bac Ninh province, an industrial hub neighboring Hanoi, is set to surpass Noi Bai as northern Vietnam’s largest airport, after the construction ministry approved adjustments to its projected capacity and land area.
Infrastructure - Thu, July 24, 2025 | 3:25 pm GMT+7
Ho Chi Minh City powers up as industrial giant post-merger
Vietnam’s southern economic engine Ho Chi Minh City is shifting into high gear, fueled by a landmark merger with neighboring industrial hubs Binh Duong and Ba Ria-Vung Tau.
Companies - Thu, July 24, 2025 | 2:04 pm GMT+7
Malaysia announces cash aid, fuel price cut amid inflation
Malaysian Prime Minister Anwar Ibrahim on Wednesday announced new measures to address growing public concern about the rising cost of living, including a cash handout for all adult citizens and a promise to lower fuel prices.
Southeast Asia - Thu, July 24, 2025 | 1:44 pm GMT+7
