TT Vision Holdings Berhad announced that it has on 18 March 2024 entered into a Joint Venture Agreement (JVA) with Autowell (Singapore) Pte. Ltd. (ASPL) to form a joint-venture company (JVC) for the purpose of setting up a manufacturing base in Malaysia for the research and development, production and sales of automation equipment and related hardware and software products intended for the overseas markets namely Southeast Asian, European and American markets particularly in the field of solar energy (Proposed JV). The total initial investment amount by the above joint-venture parties is MYR 166,600,000 for ordinary shares of 166,600,000 in the JVC.

TTVHB will invest MYR 24,990,000 which represents equity interest of 15% whilst ASPL will invest MYR 141,610,000 which represents equity interest of 85%.