Zhitong Financial APP News, ICO International Holdings (08218) announced that on October 20, 2023, ICO Asia (Hong Kong) Co., Ltd., a direct wholly-owned subsidiary of the company, entered into a non-legally binding memorandum of agreement with Malaysian listed company Industronics Berhad. Yigao Asia intends to appoint Industronics as a project management company to assist in the establishment and management of an international duty-free city in Flo Luo Jiaoyi.

It is reported that Industronics is mainly engaged in the design, manufacture and installation of electronic and microprocessor control products, telecommunications systems, audio and video multimedia systems, intelligent transportation systems and information and communication technology related systems.