Ageson explores RM120mil sales contract with Kobena

KUALA LUMPUR: Ageson Bhd's indirect wholly-owned subsidiary Ageson Retails Sdn Bhd has entered into a memorandum of understanding with Koperasi Belia Nasional Bhd (Kobena) to sell 4,000 units of vending machines and/or retail fridges equipped with Internet-of-Things systems and solutions.

It said in filing with Bursa Malaysia the parties intend to enter into a sales and purchase agreement with a contract value of RM120mil, whereby Kobena will purchase the products from Ageson for RM30,000 each.

"The MOU demonstrates the Board’s initiative in exploring new business opportunities to raise value for its shareholders," it added.