Signing of Memorandum Of Understanding

BackDec 07, 2009
Date Announced
:
 07/12/2009  



Type
:
 Announcement
Subject
:
SIGNING OF MEMORANDUM OF UNDERSTANDING

Contents
:
1) Introduction

Naim Holdings Berhad ("NAIM") is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") on 5 December 2009 with the following parties:-

a) Institute of Digital Guandong, a public service organization of Guangzhou, Guangdong, People’s Republic Of China (“IDG”)
b) Guangdong RFID Technology Service Centre, a public service organization under the supervision of Department of Information Industry of Guangdong, People’s Republic Of China (“GDRC”)
c) Smartag Solutions Berhad, a company incorporated in Malaysia (“SMARTAG”)

for the purpose of recording their intention to jointly use their expertise to develop a digital city at Permyjaya in Miri, Sarawak.

2) Background Information of the Parties to the MOU

a) IDG is a research and planning institution and think-tank development organization in both ICT infrastructure for South China as well as commercialization of digital concepts, homes, buildings and cities with extensive connections with various provinces in South China including Guangdong province as well as district planning councils towards developing digital societies and lifestyles.

b) GDRC was set up to provide localized technical support on shared Radio Frequency Identification (“RFID”) infrastructure for the region as well as commercialization of RFID applications in logistics, manufacturing retailing and IT industry.

c) SMARTAG, is a leading Malaysian based total RFID system and solutions provider, developer of the Malaysian RFID port-to-port tracking solutions and who has developed its own EPCIS solution that is able to provide regional linkages including the placing of total RFID EPCIS solution servers in Guangdong to enable L2 and L3 system linkages between Sarawak and Guangdong.

d) NAIM is the developer of the land described as Permyjaya, Miri, Sarawak

3) Duration of the MOU

The MOU shall be effective from the date of the signing and shall terminate upon:-

a) execution of detailed agreements; or
b) mutual written agreement by the parties at any time,

whichever shall occur first.

4) Directors’ and Major Shareholders’ interest
Save for Datuk Abdul Hamed Bin Sepawi, whose interests in SMARTAG are as follows:-
a) director of SMARTAG
b) holding 30% shareholding in SMARTAG
none of the directors or major shareholders of the Company or persons connected to them has any interest, direct or indirect, in the said MOU.


Dated this 7th day of December 2009

Announcement Details :