MEMORANDUM OF UNDERSTANDING Memorandum of Understanding between Amalgamated Batteries Manufacturing (Sarawak) Sdn. Bhd. (Company No.11108-A) and Jujiang Power Technology Co. Ltd. (Company No. 68166729-9)
|Description||Memorandum of Understanding between Amalgamated Batteries Manufacturing (Sarawak) Sdn. Bhd. (Company No.11108-A) and Jujiang Power Technology Co. Ltd. (Company No. 68166729-9)|
Unless otherwise stated all capitalised terms set out herein shall have the same meaning as those set out in Fujiya’s announcement dated 9 October 2019 in relation to the MOU (“Announcement”)
Further to the Announcement, ABM wishes to clarify that the proposed investment value of approximately RM500 million is the proposed budget for the Parties to set up a new battery manufacturing plant which include, amongst others, the acquisition of land and construction of plants and machineries. As the Parties are in the preliminary discussion on the type of machinery and technology to be used for the proposed investment, the breakdown of the investment cannot be determined at this juncture. Additional information will be made available upon the signing of the definitive Agreement.
This announcement is dated 11 October 2019.