Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 16): Leweko Resources Bhd said its subsidiary Dura Technology Sdn Bhd will lend its expertise in ultra-high performance cementitious composite technology (UHPCC) to India-based Shinde Developers Pvt Ltd (SDPL). 

This will subsequently allow SDPL to manufacture, sell, export and market products under the brand name “DURA” within India and other South Asian countries, namely Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka, Leweko said in a stock exchange filing. 

According to its website, SDPL is primarily involved in the field of infrastructure development and has worked on the construction and designing of roads and highways, bridges, tunnels, dams and canals in India. 

Dura entered into a memorandum of understanding with SDPL today to explore a licensing agreement to obtain from Dura, an exclusive and irrevocable licence for the use of Dura’s know-how, formulations, processes and intellectual property rights related to the UHPCC. 

“The MoU is intended to reflect the desire of Dura and SDPL to work towards the matters contained in the MoU, and to form a basis for further discussions and negotiations between the parties for the finalisation, execution and delivery of the Licensing Agreement,” Leweko said.

The MoU shall be effective from the date of execution and shall be valid until mutually terminated by both parties. 

“The parties agreed to finalise, enter into and execute the licensing agreement within 60 days from the date of execution of the MoU,” Leweko said.  

According to the group, the MoU will not have any material effect on its earnings per share, net assets per share, share capital and substantial shareholders’ shareholding for the current financial year ending June 30, 2018. 

Leweko’s shares settled down 3.2% or one sen at 30.5 sen today, valuing the group at RM98.18 million.
 

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