MEMORANDUM OF UNDERSTANDING M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY") - UPDATE ON MEMORANDUM OF UNDERSTANDING ("MOU") ENTERED BETWEEN M3TECH AND M N C WIRELESS BERHAD ("MNC")

M3 TECHNOLOGIES (ASIA) BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY")
- UPDATE ON MEMORANDUM OF UNDERSTANDING ("MOU") ENTERED BETWEEN M3TECH AND M N C  WIRELESS BERHAD ("MNC")

Further to the Company's announcement made on 28 August 2017 pertaining to the MOU made between the Company and MNC for the purpose of collaborating with MNC for the development of an inclusive e-commerce platform with integrated payment gateway solutions and end-to-end logistics support, to operate in the Malaysia Digital Free Trade Zone (DFTZ), the Board of Directors of the Company wishes to announce that the Company and MNC is in the final stage of discussion to formalise the Collaborative & Technology Agreement and is expected to be finalised and completed by the first quarter of 2018.

M3Tech and MNC have established a joint steering committee, made up of representatives from the Company and MNC to work on the strategic directions and performance criteria, commercialisation of the platform, roles and responsibilities of both parties. 

Further announcement on any material development of the matter will be made to Bursa Malaysia Securities Berhad from time to time. 

This announcement is dated 12 October 2017.






Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 12 Oct 2017
Category General Announcement for PLC
Reference Number GA1-12102017-00033