Careplus and Masterclean Technologies Sdn. Bhd. has entered into a collaboration and option agreement with Woon Howl Chuen to venture into the Renewable Energy and Energy Efficiency Management business.
Under the agreement, Careplus and WHC will subscribe to new MCT shares for a subscription price of RM1.00 per MCT share. Careplus will hold 92.3% of MCT shares while WHC will hold 7.7%. WHC also has the option to subscribe for up to 70,000 MCT shares by issuing a notice to MCT within three years from the agreement date.
If the Call Option is fully exercised by WHC, Careplus’ equity interest in MCT will reduce to 60% from 92.3%. The collaboration is expected to benefit Careplus and MCT in the renewable energy and energy efficiency management business.
The collaboration offers Careplus an alternative source of income that will enhance the profitability of Careplus Group in the future. With the Call Option included in the collaboration agreement, Careplus will have the opportunity to work closely with WHC in the solar energy sector for at least three years.
This will enable Careplus to leverage WHC’s expertise in this field, which can be crucial for the success of this new venture. The collaboration and option agreement between Careplus and WHC will enable the two entities to work together to explore and pursue new opportunities in the Renewable Energy and Energy Efficiency Management business.
