MEMORANDUM OF UNDERSTANDING MEMORANDUM OF UNDERSTANDING BETWEEN CREST BUILDER SDN BHD AND T7 KEMUNCAK SDN BHD
|Subject||MEMORANDUM OF UNDERSTANDING|
|Description||MEMORANDUM OF UNDERSTANDING BETWEEN CREST BUILDER SDN BHD AND T7 KEMUNCAK SDN BHD|
Crest Builder Sdn Bhd ("CBSB") a wholly owned subsidiary of Crest Builder Holdings Berhad ("Crest Builder") had on 26 September 2018, entered into a Memorandum of Understanding ("MOU") with T7 Kemuncak Sdn Bhd ("T7 Kemuncak") to jointly collaborate to prepare a detailed technical proposal for the construction works and subsequent executions of works for the Proposed Mixed Development of One (1) Block of Commercial Building with 44 Floors located at Lot PT 21 (Original Lot 60), Jalan Ampang, Seksyen 45, Wilayah Persekutuan Kuala Lumpur known as Latitud8 (the "Project").
T7 Kemuncak is a wholly-owned subsidiary of T7 Global Berhad and is principally engaged in construction works.
The MOU serves only as a record of the Parties' intentions and shall not create a legal relationship between the Parties and the Parties shall not be legally bound until and unless the relevant definitive Agreement has been negotiated and duly executed by the Parties
The MOU is not expected to have a material effect on the earnings, net assets, issued and paid-up capital of Crest Builder and the Group for the financial year ending 31 December 2018.
None of the Directors and/or substantial shareholders of Crest Builder and/or any persons connected to the Directors and substantial shareholders of Crest Builder have any interest, direct or indirect, in the MOU.
This announcement is dated 26 September 2018