YTL unit teams up with UK-based Xchanging

Known as Xchanging Malaysia Sdn Bhd, the 50-50 joint venture will combine Xchanging's technology, delivery expertise and international domain knowledge with YTL Communications' award-winning 4G network and market reach to deliver next-generation, mission-critical cloud solutions and platforms.

Xchanging's chief executive officer Ken Lever described the establishment of the JV as an important step for Xchanging in making its presence felt in Southeast Asia and in the mobile Internet markets.

"Because YTL Communications has the fastest wireless network here, the technical innovations we co-develop and complement have the potential to be game-changers for our customers," he said.

Meanwhile, YTL Communications chief executive officer Wing K. Lee said through such collaboration, Xchanging will bring to the venture a wealth of systems integration experience and best practices.

"We are excited to join forces in bringing relevant and impactful cloud-based solutions throughout Malaysia using our advanced nationwide 4G network.

"We firmly believe in the transformative power of mobile Internet and this is yet another tangible commitment we are making to provide a level playing field for businesses and verticals to compete locally and globally," he said.

Xchanging is a business process and technology service provider and integrator specialising in financial services, technology and procurement processing skills and capabilities to other vertical industry and market sectors.

YTL Corp's share prices stayed unchanged last Friday at RM1.74.