KUALA LUMPUR (May 16): mTouche Technology Bhd has aborted plans to jointly explore opportunities to develop and promote the online-to-offline (O2O) international educational hub, and its programmes for higher learning and e-learning research activities with A Conceptech Sdn Bhd.

In a filing with Bursa Malaysia today, mTouche said there were certain issues relating to the due diligence review on the investment and monetisation which could not be resolved to the satisfaction of mTouche.

"(As such,) both parties have mutually agreed to terminate the memorandum of understanding (MoU) with immediate effect," it added.

On Oct 2 last year, mTouche had entered into a MoU with A Conceptech for the proposed collaboration, which would have provided mTouche the opportunity to gain additional capacity and the expertise on new technological knowledge in O2O higher learning sector.

The MoU was also to promote the highest level human experience in conventional education environment by embracing technological innovation with digital platform and in-apps, artificial intelligence and blockchain platform for markets in Southeast Asia and Hong Kong.

mTouche shares closed unchanged at 12.5 sen today, with 91,200 shares done, bringing a market capitalisation of RM15.28 million.