Karin Technology (SGX:K29) subsidiary Compucon Computers received a notice of termination from IBM China/Hong Kong and IBM Singapore for its business partnership agreement, according to a Tuesday filing with the Singapore Exchange.
The company was appointed as an authorized distributor of certain IBM products and services.
The termination will take effect from Dec. 31, with IBM now looking to simplify and consolidate its distributor landscape with a limited number of global distributors.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.