| Type | Announcement | ||||||||||
| Subject | MEMORANDUM OF UNDERSTANDING |
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| Description |
MEMORANDUM OF UNDERSTANDING BETWEEN OCEANMIGHT SDN. BHD., A SUBSIDIARY OF KKB ENGINEERING BHD. ("KKB") AND SAMSUNG ENGINEERING CO., LTD. |
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INTRODUCTION
KKB is pleased to announce that its subsidiary, OceanMight Sdn. Bhd. (“OMSB”) has entered into a Memorandum of Understanding (“MOU”) with Samsung Engineering Co., LTD. (“SECL”), a company duly incorporated under the laws of the Republic of Korea (“Korea”) whose registered office is at Samsung GEC, 26, Sangil-ro 6-gil, Gandong-gu, Seoul 05288, Korea for both parties to cooperate and collaborate with each other in the preparation, submission and negotiation of tenders for projects worldwide which may involve specialized scope of work and supply.
DURATION OF CONTRACT
The MOU shall be valid for 2 years subjected to the terms of the MOU.
DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
None of the Directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned MOU.
DIRECTORS’ STATEMENT
The Board of Directors is of the opinion that the abovementioned MOU is in the best interest of KKB and its Group.
This announcement is dated 6 October 2021. Announcement Info
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