KUALA LUMPUR (March 4): BCB Bhd has entered into a memorandum of understanding (MOU) with HELP University Sdn Bhd, which will see both parties collaborating to set up an education and training centre in Kluang, Johor.
“The purpose of the MOU is merely to forge good relationship and understanding between the parties,” said BCB (fundamental: 0.60; valuation: 3.00) in its filing on Bursa Malaysia today.
It added apart from Kluang, it will also setup other education and training centres in other parts of Johor, which will provide quality, affordable and accessible education and training programmes.
The MOU is valid for five years and will form an initial framework for further formal agreements to be drawn up between both parties.
“The financial effects of the MOU can only be illustrated upon finalisation of the terms and conditions and execution of the formal agreement,” said BCB.
The property developer and hotel operator added that its directors, after having considered all aspects of the MOU are of the opinion that the MOU is in the best interest on the company.
According to the announcement, the salient terms of the MOU includes incorporating a legal structure to formalise the joint property by HELP University and BCB, to provide short courses and comprehensive educational programmes.
BBC will be providing infrastructure such as land and buildings that includes classrooms, laboratory and other amenities to be set up at Prime Hotel, Kluang, as well as other locations deemed suitable, upon both parties agreeing and finalising the details of the required infrastructure.
Meanwhile, HELP University will set up, establish and manage the education and training centre, by providing its expertise in managing and administering the education and training activities at the centre.
HELP University will also be accountable to determine courses that will be offered, as well as facilities that are required. It is also tasked with providing qualified lecturers and staffs to provide all the necessary materials for the education platform.
“Such expertise shall include the identification, provision and delivery of suitable programmes to meet the needs of the community in Johor,” said BCB.
It said BCB and HELP University shall capitalise on their existing networks to promote the centre and its programme and service offerings.
Additionally, BCB said future collaboration agreed within the context of the MOU shall be covered by a detailed legal binding agreement, which will be signed by both parties on a mutually-acceptable date.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)