1. Introduction

The Board of Directors of CRB is pleased to announce that the Company, has on 3 December 2021 signed a MOU with Huawei Technologies (Malaysia) Sdn. Bhd. (“Huawei”) (“Party” or collectively, “Parties”) to collaborate for the purposes of a long-term cooperation on a total of 500MW renewable energy projects in and outside Malaysia on an exclusive basis (“the Project”).

2. Salient Features of MOU

  Huawei and CRB have expressed the intention to enter into a contractual arrangement whereby Huawei will act as the technology enabler and it will undertake to provide the technical and after-sales support for all products and solutions and CRB would be the user and installer of the said products and solutions, subject to agreement of both Parties and the terms and conditions of the collaboration between Huawei and CRB for the Project.

The MOU comes into effect on the date of signing and will remain effective for a period of two (2) years until the execution of the set of definitive agreements between the Parties or such other period as may be mutually agreed in writing.

3. Financial Effects

The MOU will not have any financial impact on the Company.  

4. Directors’ and/or Substantial Shareholders’ Interest

None of the Directors and/or substantial shareholders or any person connected to the Directors and/or substantial shareholders of CRB has any interest, either direct or indirect in the MOU.

5. ​Directors' Statement

The Board of Directors of CRB is of the opinion that the MOU will have a positive impact on the business of CRB and is in the best interest of the CRB Group.

This announcement is dated 7 December 2021.