The board of directors of Allied Sustainability and Environmental Consultants Group Limited announced that on 26 April 2023, the Company entered into an agreement to form a joint venture and initiate a non-legally binding memorandum of understanding to form a joint venture with Farseer International Limited. The collaboration between Farseer and the Company utilizes the Group's expertise in Environmental, Social, and Governance consultancy and carbon and sustainability consultancy and Farseer's expertise in big data intelligence monitoring, artificial intelligence powered analytics services with cloud and API solutions relating to ESG and risk management. The joint venture aims to develop a Carbon, ESG, and Sustainability - AI & ChatGPT big data analytic platform, which is empowered by AI and big data business analysis, to fulfil the needs for digitalization emerging from the sustainable ESG and low carbon practices.

The Platform will incorporate internet intelligence tracking, big data intelligence monitoring, and, industry peer analysis to promote and achieve ESG goals and Carbon Neutrality through assisting users in collecting accurate ESG data, evaluating ESG Rating, identifying potential reputational risks related to ESG issues and opportunities, carbon neutrality and carbon credit, monitoring ESG performance and set targets. The Board believes that digitalization is the future direction of ESG and the formation of the joint venture with Farseer enables the Company to accomplish the digitalization of the ESG discipline, accommodating the trending market demands of such Platform to manage complicated ESG data for the fulfillment of local and international ESG and sustainability-related standards, requirements, and key performance index.