MEMORANDUM OF UNDERSTANDING M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY") - MEMORANDUM OF UNDERSTANDING BETWEEN M3TECH AND SHENZHEN USER SPECIAL DISPLAY TECHNOLOGIES CO., LIMITED

M3 TECHNOLOGIES (ASIA) BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY")
- MEMORANDUM OF UNDERSTANDING BETWEEN M3TECH AND SHENZHEN USER SPECIAL DISPLAY TECHNOLOGIES CO., LIMITED

The Board of Directors of M3Tech is pleased to announce that M3Tech has on 2 March 2016 entered into a Memorandum of Understanding (“MOU”) with Shenzhen User Special Display Technologies Company Limited (“USER”), the main purpose of which is to collaborate in the promotion of M3Tech’s Getsnapps platform and I3D display technology throughout USER’s export market worldwide.

USER, a limited company incorporated in the People’s Republic of China in 2003, is a high-tech enterprise specialized in the development, production, and marketing of LCD and LED displays, with additional customization according to the individual customer’s specifications.

M3Tech shall provide the relevant technical support to USER throughout the countries where both M3Tech and USER’s subsidiaries are located, which currently include: Malaysia, China, Hong Kong, Thailand, Singapore, Indonesia, Pakistan and Dubai.

The MOU shall commence on the date of execution and shall remain in force, unless otherwise terminated by either parties in writing.  

The MOU is not expected to have any material effect on the share capital and shareholding structure of M3Tech. It is, however, expected to have a positive contribution to the earnings per share and net assets of M3Tech Group in the near future.

None of the Directors and/or major shareholders of M3Tech and/or person(s) connected to them have any interest, direct or indirect, in the MOU.

Remarks :

Getsnapps Platform allows users to create a customized, cost-effective application that can run on LED Displays for specific vertical application without the need to learn any coding. Such applications can be used for Seasonal and Promotional activities, with a high level of flexibility that allows quick adoption of market trends and/or customer demands.

i3Display Platform is a cloud-based application developed exclusively by M3Tech. It allows generation of applications to be run on mounted or free standing LED displays. The primary functions are Content Management, Analytics, and Content Flow Management functionality with Interactive Touch Control. The inclusion of additional features to allow placement of Advertorial and Informational Kiosk Content give i3Display a disctinct competitive advantage.

I3D is the future in interactive terminals, designed to innovate, enhance and evolve the way products and companies are showcased. It allows customization to customers’ specifications in terms of mode of display so as to market their products and features in a cutting-edge manner, enabled via the aforementioned Getsnapps and i3Display cloud-based platforms.

This announcement is dated 2 March 2016.






Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 02 Mar 2016
Category General Announcement for PLC
Reference Number GA1-01032016-00050