,KUALA LUMPUR: Ho Wah Genting Bhd's unit HWGB EV Sdn Bhd and its subsidiary has entered a memorandum of understanding with China's AITOU Capital Management Ltd to establish a partnership for introducing electric vehicles in Malaysia.It said in a filing with Bursa Malaysia that AITOU is an investment company involved in project services such as participation in the formulation of strategies and business plan, assistance in follow-up financing, assistance in expanding upstream and downstream channels, and daily operational management.The MoU will be in force for 12 months."The MOU is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ending 30 April 2021."Should the business materialize, it is expected to contribute positively to the future earnings of the Company," said Ho Wah Genting.
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