In the Far East, IBM has teamed up with the Hong Leong Group of Singapore to form International Application Solutions Pte Ltd as a holding company for applications software distribution joint ventures to be establised in the member countries of the Association of South East Asian Nations – Singaproe, Indonesia, Malaysia, the Philippines and Thailand. The venture, capitalised at $2.9m, will be owned 51% by Hong Leong, 49% by IBM. The software will come from the US, Europe and Japan, and the aim is to have the Singapore, Malay and Thai ventures operational by the middle of 1991.
