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MEMORANDUM OF AGREEMENT BETWEEN OLYMPEX SDN BHD ("OLYMPEX"), THE WHOLLY-OWNED SUBSIDIARY OF ITRONIC AND XTREME BUSINESS ENTERPRISES LIMITED, HONG KONG ("XBE")

INDUSTRONICS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-19092023-00002
Subject MEMORANDUM OF AGREEMENT BETWEEN OLYMPEX SDN BHD ("OLYMPEX"), THE WHOLLY-OWNED SUBSIDIARY OF ITRONIC AND XTREME BUSINESS ENTERPRISES LIMITED, HONG KONG ("XBE")
Description
INDUSTRONICS BERHAD ("ITRONIC" OR "THE COMPANY")
- MEMORANDUM OF AGREEMENT BETWEEN OLYMPEX SDN BHD ("OLYMPEX"), THE WHOLLY-OWNED SUBSIDIARY OF ITRONIC AND XTREME BUSINESS ENTERPRISES LIMITED, HONG KONG ("XBE")
Query Letter Contents

We refer to your Company’s announcement dated 15 September 2023, in respect of the aforesaid matter.

 

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1) To provide further information on the tokenization and the mechanism of the Proposed Blockchain Project.

 

2) To provide brief roles and responsibilities as well as the scope of works by OLYMPEX and XBE in respect of the Proposed Blockchain Project.

 

3) To provide information on OLYMPEX and XBE including but not limited to date and place of incorporation, names of director(s) and shareholder(s), along with their respective shareholdings in XBE.

 

4) Further information on OLYMPEX in terms of experience and credentials, including details of past projects and development undertaken in respect of the Proposed Blockchain Project.

 

5) Whether the Proposed Blockchain Project would require any licensing or regulatory approval from Securities Commission Malaysia/ Bank Negara Malaysia or an equivalent foreign regulatory authority (where applicable).

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,

Listing

Regulation
 

Cc : Market Surveillance Dept., Securities Commission 

Reference is made to the Company's Announcement dated 15 September 2023 in respect of the aforesaid matter (“Announcement”).

 

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcement.)

 

Please refer to the attachment for the additional information.

 

This announcement is dated 20 September 2023. 



Please refer attachment below.



Announcement Info

Company Name INDUSTRONICS BERHAD
Stock Name ITRONIC
Date Announced 20 Sep 2023
Category General Announcement for PLC
Reference Number GA1-19092023-00050




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