Thursday 28 Mar 2024
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KUALA LUMPUR (March 20): PUC Bhd's wholly-owned subsidiary Founder Qube Sdn Bhd (FQ) and Advwhere Ltd had today established a partnership via a collaboration agreement under which Advwhere grants FQ exclusivity to market the Cloudbreakr Technology in Malaysia, Indonesia and Singapore to media partners and advertisers.

PUC told Bursa Malaysia today that the one-year agreement is effective today (March 20, 2018). PUC said the agreement will be automatically renewed on an annual basis, unless terminated by parties to the deal in accordance with the terms and conditions of the agreement.

"The board of directors of PUC believes that the collaboration agreement will add value to PUC by widening the range of media spaces that FQ can offer to its advertisers, as FQ will now be able to offer to its advertisers and potential media partners, an additional option of advertising and promotion through the Cloudbreakr Technology.

"The exclusive collaboration will also enable FQ, Advwhere and the brands and marketers to gain further business reach and international market presence as a whole. The collaboration agreement is expected to contribute positively towards PUC’s earnings and consequently net assets per share, for the financial year ended 31 December 2018," PUC said.

PUC said FQ and Advwhere established the partnership today, after both companies signed a memorandum of understanding (MOU) on Oct 25, 2017. 

At 12:30pm, PUC shares added one sen or 5% to settle at 20 sen, for a market value of RM293.56 million. The stock saw some 16 million shares traded.

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