The Board of Directors of AWC Berhad announced that the Company, had on 10 February 2023 entered into a Memorandum of Understanding (“MOU”) with Techkem Group Sdn Bhd (“Techkem”) and Alliance MEP (Sarawak) Sdn Bhd (“ÄMEPS”). The Parties are collaborating with one another to jointly explore water infrastructure projects within the development of Nusantara National Capital City, Indonesia with AWC being the Lead EPCC Contractor, AMEPS as the Lead Engineering Consultant while Techkem as the Technical Partner and Solutions Provider. This MOU shall come into force from the date of signature and is valid for twelve months unless terminated by the Parties.

The MOU shall be terminated automatically if: The Parties have made a definitive agreement to implement the purposes and objectives of this MOU; or the expiration of the term of the MOU, whichever comes first.