NOVA MSC BERHAD
26 February 2024
Type | Announcement |
Subject | MEMORANDUM OF UNDERSTANDING |
Description | NOVA MSC BERHAD (“NOVA” or “Company”) – Memorandum of Understanding (“MOU”) between Theta Edge Berhad and NOVA |
We refer to the announcement dated 31 January 2023 and 30 November 2023 in relation to the MOU between Theta Edge Berhad (“Theta”) and NOVA and the announcement dated 5 September 2023 in relation to the Joint Venture and Shareholders’ Agreement between Theta and NOVA. Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the said announcements.
The Company wishes to update that: –
i) The business plans are being finalised to ensure that they are aligned with the strategic objectives, market opportunities and the joint venture company’s vision, goals, target markets and strategies for growth.
(ii) In line with the joint venture’s strategy to establish partnerships and to garner support for Proof of Concept (POC) initiatives, outreach efforts has been initiated to targeted ministries/governmental bodies in anticipation for a successful collaboration to demonstrate the value and impact of the innovative solutions.
(iii) Implementation of initiatives to enhance the team’s expertise and skills through training programs, workshops and collaborative sessions to drive product development and innovation effectively.
The Company will make the appropriate announcement if there is any material development.
This announcement is dated 26 February 2024
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