MEMORANDUM OF UNDERSTANDING Status Update on Memorandum of Understanding Between Universal Alloy Corporation Europe and JHM Consolidation Berhad
|Subject||MEMORANDUM OF UNDERSTANDING|
|Description||Status Update on Memorandum of Understanding Between Universal Alloy Corporation Europe and JHM Consolidation Berhad|
Reference is made to the announcements dated 26 March 2019, 25 June 2019, 25 September 2019, 24 December 2019 and 25 March 2020 in relation to the Memorandum of Understanding (“MOU”) between Universal Alloy Corporation Europe (“UACE”) and JHM Consolidation Berhad (“Announcements”).
Unless otherwise stated, all definitions used throughout this announcement shall have the same meaning as defined in the earlier Announcements.
The Board of Directors of the Company wishes to inform that the business relationship between UACE and JHM continues to flourish and JHM has been recognized as the top supplier for UACE in South East Asia. All the awarded parts to JHM are fully qualified now and JHM has started the mass production. This has been a remarkable achievement since the signing of MOU in LIMA Langkawi in 26 March 2019. With that achievement, UACE is now included into JHM’s strategic business account portfolio and will be managed as such from now.