KUALA LUMPUR (Nov 1): Green Packet Bhd has entered into a Memorandum of Understanding with China Mobile Group Device Co Ltd for both parties to explore opportunities in promoting and distributing each other’s products and services.

The Chinese firm is a subsidiary of state-owned China Mobile Communications Group Co Ltd, whose other subsidiaries include China’s largest telecommunications company, China Mobile Ltd.

Green Packet said the MoU is valid for a period of one year, subject to renewal upon agreement by both parties.

Besides promoting and distributing products, Green Packet and China Mobile Group Device will provide sales and service assistance and make available technical support and services.

Meanwhile, both companies have agreed to enrol a minimum of two representatives of either party in sales or service training courses offered by each party concerning their respective products and services to maintain a level of technical familiarity.

“The parties may enter into a definitive agreement regarding the details of the collaboration for the business opportunities described above, and such definitive agreement will replace this MoU upon execution,” said Green Packet.

The company expects positive contribution to its operations once a definitive agreement is executed by the parties.

Green Packet’s share price fell 0.5 sen or 0.68% to close at 73 sen for a market capitalisation of RM679.31 million.