RENEUCO 7130 RENEUCO BERHAD: LOI in Indonesia is non-binding

RENEUCO 7130 RENEUCO BERHAD: LOI in Indonesia is non-binding

KUALA LUMPUR (Jan 9): Reneuco Bhd said the collaboration between its wholly owned subsidiary Reneuco International (L) Ltd, formerly known as KPower International (L) Ltd, and Indonesia’s Nusantara Capital City (IKN) Authority is non-binding.

“The LOI (letter of intent) shall not be constituted as a binding contract between parties and only to indicate the possibility to collaborate and form a strategic partnership for the development of sustainable energy and utilities services and is intended to set out the framework and basis for further negotiation and discussion,” it said in a filing with Bursa Malaysia on Monday (Jan 9).

Reneuco said its intention in Indonesia is to explore an investment opportunity with the IKN Authority to collaborate on the development of sustainable energy and utilities services in Indonesia.

http://www.theedgemarkets.com/node/651078