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    5WF   SG2F95994529


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General Announcement::Collaboration Agreement

10/22/2021 | 06:34am EST


(Company Registration No: 201230294M)

(Incorporated in the Republic of Singapore on 12 December 2012)


The Board of Directors (the "Board" or "Directors") of ISOTeam Ltd. (the "Company" and together with its subsidiaries, the "Group") wishes to announce that the Company's wholly-owned subsidiary, ISOTeam Green Solutions Pte. Ltd. ("IGS") has entered into a five-year collaboration agreement (the "Collaboration Agreement") with H3 Dynamics Pte Ltd ("H3 Dynamics") for the purpose of appointing IGS as the master agent for H3Zoom by H3 Dynamics's suite of products and services for building façade inspections (the "Collaboration").

Under the Collaboration, IGS and H3 Dynamics will work together exclusively for Housing and Development Board ("HDB"), town councils as well as commercial and condominium building façade inspection projects that are secured by the Company, and non-exclusively for other projects. The Company will also be the master agent to market H3Zoom by H3 Dynamics' façade inspection products and services to other parties for HDB block inspections.

H3Zoom by H3 Dynamics is the global artificial intelligence ("AI") and robotics services arm of H3 Dynamics that turns unstructured data from physical structures into digital and interactive reports via a holistic management platform. Headquartered in Singapore, H3Zoom by H3 Dynamics covers the entire inspection lifecycle starting with the deployment of autonomous drones with specialised sensor payloads to conduct inspections of building facades based on a pre-established flightpath. That data is then processed using AI to detect common defects such as cracks and corrosion. H3 Dynamics is founded by Mr Taras Wankewycz, who is also co-founder of Nasdaq-listed Hyzon Motors Inc..

As at the date of this announcement, the Group has secured three building façade inspection projects.

The Collaboration Agreement is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the current financial year ending 30 June 2022.

None of the Directors or controlling shareholders of the Company and their respective associates has any interest, direct or indirect, in the Collaboration Agreement, other than through their respective shareholdings (if any) in the Company.

By Order of the Board

Anthony Koh Thong Huat

Executive Director and Chief Executive Officer

22 October 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Kaeson Chui, Vice President, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, Telephone (65) 6415 9886.


ISOTeam Ltd. published this content on 22 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2021 10:33:06 UTC.

ę Publicnow 2021
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More news
Sales 2021 112 M 81,7 M 81,7 M
Net income 2021 7,00 M 5,11 M 5,11 M
Net Debt 2021 - - -
P/E ratio 2021 6,65x
Yield 2021 -
Capitalization 46,3 M 33,8 M 33,8 M
Capi. / Sales 2021 0,41x
EV / Sales 2022
Nbr of Employees 366
Free-Float 27,9%
Duration : Period :
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Managers and Directors
Thong Huat Koh Chief Executive Officer & Executive Director
Teck Sing Teo Chief Financial Officer & Secretary
Cheng Lian Ng Executive Chairman
Kok Ann Teoh Chief Operating Officer
Eng Ann Tan Lead Independent Director
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