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Check out the sleek tablet above. She's a beauty, isn't it? Believe it or not, this baby – named JooJoo (http://www.the joojoo.com) - is going to be manufactured by a local company here in Malaysia.

The company, CSL Group (http://www.cslcare.com) has recently came into agreement to not only mass-produced JooJoo to its creator, Fusion Garage; but will also absorb all initial manufacturing cost in exchange for a share of royalty from every unit of JooJoo sold throughout the world. Not enough with that, CSL has also joined on board as one of Fusion Garage's investors.

That pretty much shows how confident CSL with JooJoo, even though the device has a shaky background with a waiting lawsuit to come. Meanwhile, since JooJoo’s actual specs are yet to be confirmed, we have no idea how powerful the device really is. At least it can run full Flash applications, something that Apple iPad can’t do. Just saying…

Full press release is available after the jump.

[Source: Engadget. Image by JooJoo]

SINGAPORE, February 3, 2010 – Fusion Garage today announced that its category-creating JooJoo Internet tablet has moved into full production with initial shipments expected to reach consumers at the end of February. Helping fuel the JooJoo's arrival and Fusion Garage's next phase of corporate growth is an innovative manufacturing agreement and strategic investment from mobile device OEM and distribution giant CSL Group of Malaysia.

Fusion Garage is expected to announce a second round of investment within the next two weeks which would augment today's investment from CSL and the company's initial round secured in November 2009.

CSL, established in 1998, has rapidly grown to a major conglomerate, with sales of nearly $300M USD, and the organization is one of the largest manufacturers of cell phones, mobile devices, netbook and notebook computers in SE Asia.

The strategic relationship between the companies calls for CSL to absorb all up front manufacturing costs associated with JooJoo production. This agreement virtually eliminates the normal high cost of mass market entry - often in the tens of millions - for any emerging Consumer Electronics (CE) hardware developer. In exchange, CSL will receive a revenue royalty from each JooJoo sold globally. Additionally, CSL has made a strategic venture investment in Fusion Garage which will help the company to move to the next phase of its corporate growth and product development.

"This is landscape changing manufacturing agreement in the CE hardware market in much the same way Dell changed the PC business model with its direct to consumer sales approach back in the 1990s," said Fusion Garage founder and CEO, Chandrasekar (Chandra) Rathakrishnan. "CSL's confidence in JooJoo and strategic investment enables us to concentrate on the expansion of our organization, software development and, ultimately, building a world class CE company."

"We are justifiably bullish - not only on the promise of the JooJoo and the Internet tablet market's potential but also on Fusion Garage's forward looking vision," said Dato Eric Chuah, Chairman of the CSL Group of Companies. "We have an opportunity to expand our business via this relationship, enter a hot market with a trusted partner and turn the traditional CE hardware manufacturing model on its head. We are betting on volume here and firmly believe our bet will be a winner."