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MEMORANDUM OF UNDERSTANDING AT SYSTEMATIZATION BERHAD ("ATS" or the "Company") MEMORANDUM OF COLLABORATION (MOC) BETWEEN AT PRECISION TOOLING SDN. BHD. (ATP), A WHOLLY OWNED SUBSIDIARY OF AT SYSTEMATIZATION BERHAD (ATS), AND SHANGHAI JIE NA XIN MECH & ELEC EQUIPMENT CO. LTD (JNX)

AT SYSTEMATIZATION BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
AT SYSTEMATIZATION BERHAD ("ATS" or the "Company")

MEMORANDUM OF COLLABORATION (MOC) BETWEEN AT PRECISION TOOLING SDN. BHD. (ATP), A WHOLLY OWNED SUBSIDIARY OF AT SYSTEMATIZATION BERHAD (ATS), AND SHANGHAI JIE NA XIN MECH & ELEC EQUIPMENT CO. LTD (JNX)

(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements dated 5 May 2020, 4 August 2020 and 4 November 2020 in relation to the MOC, where applicable, unless stated otherwise or defined herein.)

Reference is made to the Company’s announcements made on 5 May 2020, 4 August 2020 4 November 2020 pertaining to the MOC between ATP, a wholly-owned subsidiary of ATS and JNX for collaboration in the business relating to producing high precision tooling parts for meltblown nonwoven fabric mask making machines such as spinneret (“Product”) as well as localisation of the Product.

The Board of Directors of ATS wishes to inform that, in light of the absence of any further progress on the MOC, ATP and JNX have mutually agreed to terminate the MOC with immediate effect.

This announcement is dated 8 January 2021.






Announcement Info

Company Name AT SYSTEMATIZATION BERHAD
Stock Name AT
Date Announced 08 Jan 2021
Category General Announcement for PLC
Reference Number GA1-08012021-00058




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