Further to the earlier execution of the MOU on 27 June 2013 in relation to the technical cooperation agreement ("TCA") to provide support, technical drawings and supply of Original Equipment Manufacturer ("OEM") products for 11kV and 24kV primary air insulated switchgear ("AIS") between ABB Malaysia Sdn Bhd and PESTECH Sdn Bhd ("PSB"), a wholly-owned subsidiary of the Company, the Board of Directors is pleased to inform that as at today, 24 October 2013, PSB has completed the signing of:-
- TCA Part A: Agreement relating to use of technical drawings between ABB Technology Ltd, Zurich, Switzerland and PSB;
- TCA Part B: Purchase agreement between ABB Malaysia Sdn Bhd and PSB; and
- TCA Part C: Technical Support Agreement between ABB S.p.A, Bergamo, Italy and ABB Xiamen Switchgear Co. Ltd. and PSB.
The TCAs would allow PSB the right to use the technical drawings for the relevant medium voltage AIS products, purchase the ABB OEM products and components such as the circuit breakers, contractors and powercube and receive technical support including participation in the technical support programs to be provided by ABB technical support team from both Bergamo, Italy and Xiamen, China.
This announcement is dated 24 October 2013.