Raffles Infrastructure eyes smart city projects with new major shareholder

Singapore

RAFFLES Infrastructure Holdings - currently on the Singapore Exchange's watch-list - and its new substantial shareholder, South Korea-listed Magic Micro, will explore potential partnerships in infrastructure and smart city projects in the global market.

Both companies signed a memorandum of understanding (MOU) on financial and technological cooperation in infrastructure investment opportunities, according to Raffles Infrastructure's bourse filing on Thursday.

Eric Choo, chief executive officer of Raffles Infrastructure, said: "This is the beginning of our synergistic partnership (with Magic Micro). We are looking to tap Magic Micro's technological expertise and …