Tuesday 30 Apr 2024
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KUALA LUMPUR (Sept 30): Copper products manufacturer Ta Win Holdings Bhd has called off the memorandum of understanding (MoU) with RR One Capital effective Thursday, after parties were unable to conclude the discussions with details and terms of the joint venture (JV).

In a bourse filing, the group said it will no longer be pursuing the proposed JV with RR One and shared that the termination of the MoU does not have any financial impact on the group.

Earlier, on Sept 1, Ta Win announced a JV with RR One Capital to adopt smart contracts on blockchain technology in the infrastructure development of electric vehicle (EV) charging stations and integrated charging ecosystem.

“The JV Partners intend to collaborate with other reputable technology partners to deploy the technology partner’s blockchain-based solutions, combined with artificial intelligence (AI), big data and internet-of-things (IOT) technologies along the supply chain of EV charging stations and integrated charging ecosystem; and import charging modules and solutions for the installation on the EV charging stations,” it said in the previous Bursa Malaysia filing.

Shares in Ta Win ended five sen or 3.57% to 13.5 sen on Thursday, valuing the company at RM460.83 million. 

Edited ByLam Jian Wyn
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