KUALA LUMPUR (Oct 18): PUC Bhd’s memorandum of understanding with point-of-sale services provider Bersian Technology (M) Sdn Bhd to implement a cross-marketing collaboration, has lapsed.

“Following the MoU expiry, the parties have mutually agreed that neither party shall have any claim whatsoever, directly or indirectly, against the other in respect of the MoU,” the group said in a filing today.

It added that the expiry will not have any material financial impact on PUC or its subsidiaries.

The MoU, which came into effect on Oct 19, 2017, was intended to provide an opportunity for the parties to establish a collaboration on their respective expertises and strengths.

PUC had said that the partnership was to involve exploring the collaboration through its subsidiaries, which have clientele in the retail and electronic commerce sector, and are interested in complementing its existing services.

This was to be done by marketing PUC's advertising and electronic payment services to Bersian's existing clientele, as well as cross-marketing with the point-of-sale services of Bersian to PUC's clientele.

PUC closed unchanged at 13 sen today with 6.87 million shares done, for a market capitalisation of RM230.95 million.