MQ Technology's Unit Signs Energy-Saving Agency Agreement

MT Newswires Live09-28

MQ Technology's (KLSE:MQTECH) subsidiary, MQ AI Advanced Technology, signed an exclusive agency cooperation agreement for energy-saving services with Exands (Shanghai) Information Technology, according to a Friday Bursa Malaysia filing.

The agreement is focused on marketing, implementing and operating AI-powered central air conditioning energy-saving projects in Malaysia and Indonesia.

The agreement follows a facilitation and collaboration agreement between the unit and INT Network Solution, through which the latter introduced Exands to MQ Tech.

The latest agreement remains valid for 10 years with exclusive agency rights terminable by Exands upon material breach by MQ AI.

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