1. Introduction
The Board of Directors of AGMO wishes to announce that Jom eInvoice Sdn. Bhd. [Registration No. 202401003248 (1549098-K)] (“Jom eInvoice”), an indirect 52.5% owned subsidiary of the Company, had on 1 April 2024 entered into a Memorandum of Understanding (“MOU”) with MSC Trustgate.com Sdn. Bhd. [Registration No. 199901003331 (478231-X)] (“MSC Trustgate”) to evaluate and explore potential business collaboration in one or more of the areas set forth below:
a) To exchange technical expertise and industrial knowledge in incorporating digital signature authentication features into the JomeInvoice solution (“Solution”); and
b) The promotion, marketing and sales of the Solution to their respective client bases.
Jom eInvoice and MSC Trustgate shall hereinafter be collectively referred to as the “Parties” and individually as the “Party”.
2. Information on the Parties
2.1 Jom eInvoice
Jom eInvoice was incorporated on 22 January 2024 as a private company limited by shares with its registered address at B-21-1, Level 21, Tower B, Northpoint Mid Valley City, No. 1, Medan Syed Putra Utara, 59200, Kuala Lumpur, Wilayah Persekutuan. The principal activity of Jom eInvoice is provision of digital solutions for e-Invoicing and related ancillary services.
The Directors of Jom eInvoice at incorporation are Tan Aik Keong and Low Kang Wen, who are the directors and substantial shareholders of AGMO.
2.2 MSC Trustgate
MSC Trustgate was incorporated on 4 March 1999 as a private company limited by shares with its registered address at Unit C-02-03, Level 2, Block C, Southbank Commercial Centre, No. 179, Jalan Klang Lama, 58000, Kuala Lumpur, Wilayah Persekutuan. MSC Trustgate is a Certificate Authority ("CA") licensed by the Malaysian Communications And Multimedia Commission ("MCMC") under the Digital Signature Act 1997 to issue and manage digital certificates and identities based on Public Key Infrastructure ("PKI") for the Malaysian market.
3. Salient Terms of MOU
The MOU shall commence on 1 April 2024 (“Effective Date”) and shall take effect from the Effective Date and remain valid until the earlier of (a) one (1) year, or (b) the date the Parties have entered into definitive agreement(s) which supersede this MOU.
4. Rationale of the MOU
The purpose of the MOU is to undertake possible collaboration in the areas as disclosed in Section 1 of this announcement.
5. Financial Effects
The MOU is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of the Company for the financial year ending 31 March 2024.
6. Risk Factors
The risk factors involved in this MOU at this juncture is expected to be minimal and, in the event Jom eInvoice enters into a future definitive agreement with MSC Trustgate, the Board of Directors and the management of the Company will exercise due care in considering the associated risks and benefits.
7. Directors’ and/or Substantial Shareholders’ Interest
None of the Directors and substantial shareholders of AGMO and/or persons connected to them have any interest, direct or indirect, in the MOU.
8. Statement by Directors
The Board of Directors of AGMO, having considered all aspects of the MOU is of the opinion that the MOU is in the best interest of AGMO.
9. Approval Required
The MOU does not require the approval of shareholders of the Company and any relevant government authorities.
10. Document Available for Inspection
The MOU is available for inspection at B-21-1, Level 21, Tower B, Northpoint Mid Valley City, No. 1, Medan Syed Putra Utara, 59200 Kuala Lumpur, W.P. Kuala Lumpur between 9.00 a.m. and 5.00 p.m. from Mondays to Fridays (except on public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 1 April 2024.