お知らせ • Oct 18
Key Alliance Group Berhad and Pessl Instruments GmbH Announce Strategic Alliance Agreement
The Board of Directors of Key Alliance Group Berhad announced that it has on 16 October 2020, entered into a Strategic Alliance Agreement with Pessl Instruments GmbH to set forth the terms for being appointed as the authorised distributor of Pessl in Malaysia, and to use and reproduce Pessl's marks solely in connection to the Rice Information Management System which announced earlier. Pessl, which is headquartered in Weiz, Austria and founded in 1984 by current CEO Gottfried Pessl and operated in more than 80 countries. Pessl develops and distributes climate monitoring, agricultural risk, and irrigation management technology solutions for its farming customer base. Globally distributed under the iMETOS brand, products include weather stations, soil moisture monitoring devices, irrigation automation controllers, electronic insect traps, remote crop monitoring systems, disease, pest warning software, and localized weather forecasts. Pessl grants KAG, and KAG accepts, an exclusive, non-transferable right and license to resell Pessl's products to end users within Malaysia, whether on a stand-alone basis or as an integrated component of KAG's solution, and to advertise and represent itself as an authorised distributor of Pessl, and to use and reproduce Pessl's marks solely in connection to the Project. In furtherance of the Project objectives, Pessl will collaborate closely with KAG to modify existing or develop new products and solutions as part of a collaborative product development initiative. The Agreement shall commence from the execution date and shall remain in full force for a term of two years from such date and may be extended twenty four months provided that any of the two conditions met: (i) successful award of a contract based on Pessl's product specifications; or (i) purchase order from KAG with agreed minimum value. During the term of the Agreement, Pessl shall not, directly or indirectly, independently advertise, solicit or make sales in relation the Project, provide aftersales service thereof and/or appoint additional partners in Malaysia. During the term of the Agreement, and for twenty four months thereafter, Pessl shall not, directly or indirectly, sell or otherwise provide to any third party, or otherwise engage or invest in any business, whose market is located in Malaysia, in direct competition with the Project, whether as a principal or for its own account, or as a shareholder or other equity owner in any person. The Board believes this Agreement will present the Company with an opportunity to cater for the booming agrotechnology sector, specifically to Pessl's IOT devices. Precision farming and agrotechnology is an industry that uses cloud computing and storage services heavily, and the Board feels this is in line with its corporate strategy to explore alternative industry applications to its data storage and cloud business. Pessl is also an invaluable partner for the deployment of the recently announced Project, which sees the use of its internet of things sensors. The execution of the Agreement is not expected to have material effect on the earnings, net assets and gearing of KAG Group for the current financial year ending 31 March 2021. The Agreement may have a positive impact to the Group's earnings in the future should the Project being commercialised. The execution of the Agreement has no effect on the issued and paid-up share capital and the substantial shareholders' shareholding in KAG.