MEMORANDUM OF UNDERSTANDING PECCA GROUP BERHAD ("PECCA" OR "COMPANY") - Memorandum of Understanding between PECCA and Malaysia Automotive Robotics and IoT Institute ("MARii")

PECCA GROUP BERHAD

Type

Announcement

Subject

MEMORANDUM OF UNDERSTANDING

Description

PECCA GROUP BERHAD ("PECCA" OR "COMPANY") - Memorandum of Understanding between PECCA and Malaysia Automotive Robotics and IoT Institute ("MARii")

Reference is made to the Company’s announcement dated 24 November 2021, 24 February 2022, 24 May 2022, 24 August 2022, 24 November 2022, 24 February 2023, 24 May 2023 and 24 August 2023 in relation to the MOU signed between PECCA and MARii (“Announcements”).

Unless otherwise defined, the definitions as set out in the Announcements shall apply therein.

The Company wishes to inform that the addendum to the MOU has been signed on 24 November 2023 with the following salient terms: -

	Areas of collaboration

	1.1	MARii will assist PECCA in the establishment of electric vehicles manufacturing and/or complete knocked-down assembly capabilities, including passenger vehicles, commercial vehicles, two-wheelers, and related components;

	1.2	market expansion of current and new products of PECCA to OEM including but not limited to Porsche, Volvo, Mercedes-Benz, BMW and Honda;

	1.3	PECCA and MARii to collaborate in the talent development programme; and

	1.4	any other areas of collaboration which the OEMs and PECCA may mutually agree on.

2.	Duration of the MOU

	PECCA and MARii had mutually agreed to extend the MOU for a further period of three years effectively from 25 November 2023 until 25 November 2026.

The Company will make the relevant update announcement(s) in relation to the foregoing as and when there are material developments on the same.

This announcement is dated 24 November 2023.

Announcement Info

Company Name	PECCA GROUP BERHAD
Stock Name	PECCA
Date Announced	24 Nov 2023
Category	General Announcement for PLC
Reference Number	GA1-24112023-00039