Silkwave Inc. announced that it has entered into a joint venture agreement with ASAS Stabil Sdn Bhd to form a joint venture company in Malaysia. The joint venture company will be 51% owned by the Company and 49% by ASSB. It will serve as the regional platform for deploying the Company's satellite-Internet data-as-a-service such as in-vehicle information, mobile multimedia, and Internet broadcasting in Malaysia and in other ASEAN countries.

The joint venture expects to focus on infotainment for new-energy smart vehicles, mobile TV programming for remote and sub-urban communities, and government digital information and education services for nationwide audiences. The services will premise on the Company's regional satellite AsiaStar and its follow-on platform Silkwave-1 as well as turnkey ecosystem solution developed in China. The joint venture expects to quickly start pilot services in Kuala Lumpur and Penang leading to the whole Malaysia, and later expanding to other ASEAN countries especially Indonesia, Philippines and Brunei, i.e., the BIMP-EAGA region (Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area), where the countries share highly similar geographical, demographic, and economic development characteristics.