GSS Energy Announces Strategic Joint Venture

GSS Energy Limited (SG:41F) has released an update.

GSS Energy Limited has announced the formation of a joint venture with HK Wise Ally to capitalize on synergy between HK Wise Ally’s product innovation and Giken’s manufacturing strengths in electronic manufacturing services. The new entity, set to launch around mid-April 2024, will see HK Wise Ally holding a dominant 90% equity interest, while Giken will hold the remaining 10%. This move signifies a strategic collaboration aimed at enhancing their presence in the EMS sector, particularly leveraging Giken’s facilities in Batam Island, Indonesia.

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