Announcements


Date: 23 August 2017

MEMORANDUM OF UNDERSTANDING ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" or "the Company") - STATUS UPDATE ON MEMORANDUM OF INTENT WITH RANGKAIN ILTIZAM SDN. BHD.


Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" or "the Company") - STATUS UPDATE ON MEMORANDUM OF INTENT WITH RANGKAIN ILTIZAM SDN. BHD.

We refer to the Company's announcements made on 19 December 2016, 28 February 2017 and 22 May 2017 pertaining to the Memorandum of Intent ("MOI") entered into between the Company and Rangkain Iltizam Sdn. Bhd. ("RISB") to work together to extend the basis for commercial collaboration and co-operative exchanges between the Company and RISB. The Board of Directors of ABT wishes to inform that on 8 August 2017, an Investment and Shareholders' Agreement was entered into between Vsolar Group Berhad, Vsolar Engineering Sdn. Bhd., Kenneth Lee Wai Tong, KRU Energy Asia Pte Ltd and RISB ("Agreement"), thus effectively ending the MOI between ABT and RISB. The Agreement is the culmination of ABT's effort to create value for the investee companies that it holds, in this case Vsolar Group Berhad that primarily focuses on the renewable energy sector.

This announcement is dated 23 August 2017.





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