| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description | PT RESOURCES HOLDINGS BERHAD ("PT RESOURCES" OR "THE COMPANY") - MUTUAL TERMINATION OF MEMORANDUM OF UNDERSTANDING ("MOU") ENTERED BETWEEN PT RESOURCES AND OCEAN EXCHANGE (FUJIAN) FOREIGN TRADE SERVICES CO. LTD ("OCEAN EXCHANGE") |
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Further to the Company's announcement made on 26 June 2024 pertaining to the MOU entered into between PT Resources and Ocean Exchange to establish cooperation between PT Resources and Ocean Exchange for the joint development of the Malaysia East Coast International Supply Chain Intelligent Park, the Board of Directors of PT Resources ("Board") wishes to announce that PT Resources had on 27 September 2024 received an acknowledgement from Ocean Exchange confirming that both parties mutually agreed to terminate the MOU with effect from 31 August 2024 as there is no further material development of the MOU (“Mutual Termination”).
The Mutual Termination is not expected to have any material effect on the earnings, net assets, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ending 30 April 2025. The Mutual Termination is not subject to the approval of the Company’s shareholders and/or any regulatory authorities. None of the Directors, major shareholders and/or persons connected with them has any interest, whether direct or indirect, in the Mutual Termination. The Board, having taken into consideration all aspects of the Mutual Termination, is of the opinion that the Mutual Termination is made in the best interests of the Company. This announcement is dated 27 September 2024. |
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| Company Name | PT RESOURCES HOLDINGS BERHAD |
| Stock Name | PTRB |
| Date Announced | 27 Sep 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-26092024-00036 |