MEMORANDUM OF UNDERSTANDING M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY") - MEMORANDUM OF UNDERSTANDING WITH MNC WIRELESS BERHAD

M3 TECHNOLOGIES (ASIA) BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY")
- MEMORANDUM OF UNDERSTANDING WITH MNC WIRELESS BERHAD

The Board of Directors of M3Tech is pleased to announce that the Company has on 12 April 2017 entered into a Memorandum of Understanding (“MOU”) with MNC Wireless Berhad ("MNC") for the collaboration and development of an inclusive e-commerce platform with integrated payment gateway solutions and end-to-end logistics support, to be operated in the Malaysia Digital Free Trade Zone (DFTZ).

MNC was incorporated in year 2002 and listed on Bursa Malaysia Securities Berhad in year 2005, servicing established clientele operating across diverse industries, namely Telecommunication, Banking, Insurance, Property Development, Fast Moving Consumer Goods, Industrial Products, Cosmetics, Education, Food and Beverages and etc. 

The MOU will comprise a Business-to-Business focused trading platform for manufacturers to connect with international buyers, and a Consumer-to-Consumer focused trading platform supporting smaller-scale entrepreneurs to sell through online platforms. 

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

The MOU will not have any effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders' shareholding of the Company for the financial year ending 30 June 2017.

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest, direct or indirect, in the MOU. 

 

This announcement is dated 12 April 2017.






Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 12 Apr 2017
Category General Announcement for PLC
Reference Number GA1-12042017-00049