Further to the announcement dated 25 March 2020 in relation to the Memorandum of Understanding dated 25 March 2020 entered into between Aemulus Corporation Sdn. Bhd. (“ACSB”), a wholly-owned subsidiary of the Company with Tangren Microtelligence Technology Co., Ltd. (“Tangren Microtelligence”), the Board of Directors of Aemulus wishes to announce that ACSB had on 10 April 2020, entered into a Joint Venture Agreement with Tangren Microtelligence to form a joint venture company for the purpose of establishing a long-term business partnership in People’s Republic of China that involve certain product technology transfer, research and development, manufacturing, sales and marketing (the “Proposed Joint Venture”). 

Further details of the Proposed Joint Venture are set out in the attachment.

This announcement is dated 10 April 2020.