GETS Global eyes RM50m worth of bus sales to Gunung Capital

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KUALA LUMPUR (Sept 24): GETS Global Bhd is looking to sell 100 units of high specification buses to Gunung Capital Bhd which could amount to some RM50 million.

In a bourse filing today, GETS Global said it had on Sept 20 entered into a memorandum of understanding (MoU) with Gunung's wholly-owned subsidiary GPB Corp Sdn Bhd to discuss and negotiate terms of the agreement for the proposed sale.

"GPB is desirous to place an order of not less than 100 buses with GETS Global. The buses will be of high specification to be detailed out in the sale and purchase agreement (SPA) with a purchase price of not less than RM500,000 for each bus," it added.

The buses are to be delivered within nine months from the date of the SPA.

"Subject to final agreement and signing of a conclusive SPA, the MoU will have a positive impact on the earnings of the company," said GETS Global.

GETS Global shares closed down one sen or 5.71% at 16.5 sen today, with 1.03 million shares done, bringing a market capitalisation of RM20.79 million.