ISOTeam BuildTech, H2U to develop AI-enabled materials sourcing

The partnership runs for 12 months, renewing annually unless terminated by either party.

ISOTeam Ltd. announced that a wholly-owned subsidiary of the group, ISOTeam BuildTech Pte Ltd, has entered into a collaboration with HOMA2U Pte Ltd (H2U), aiming to develop a building material-matching and overstock solution.

H2U, a subsidiary of Malaysian firm HOMA Sdn Bhd (HOMA), will assist the group in sourcing materials, building and managing the AI platform and expanding its use in the industry. Meanwhile, ISOTeam BuildTech will provide network access to the construction industry, market insights, and office and administrative support to H2U.

The partnership is set for an initial term of 12 months and automatically renewed for each successive 12-month term until otherwise terminated by either party with notice.

Upon termination, each party will retain its respective assets, intellectual property, and contributions made before termination.

To avoid doubt, all intellectual property related to the sourcing solutions and material management processes developed by H2U under the collaboration will remain the property of HOMA. ISOTeam BuildTech will have a license to use such solutions for the duration of the collaboration unless otherwise agreed in writing.

The profit-sharing arrangement for the collaboration between H2U and ISOTeam BuildTech shall be 80% and 20%, respectively, taking into account that ISOTeam BuildTech will only be providing administrative support, including office space, to H2U, whilst HOMA will fully fund the collaboration.

The collaboration is not expected to have a material impact on the earnings per share and net tangible assets per share of the group for the financial year ending 30 June 2025.