Cn Asia Corporation Bhd Announced Memorandum of Agreement with Poly China United Capital Holdings Limited [Registration no. 1642823] with the intention to enter into a collaboration to explore opportunities in poly green energy and drone technology to achieve the objectives of the MOA. The Board of Directors of the Company wishes to announce that there is no material development as announced previously except the parties are still in the process of developing a feasible business model for the Collaboration.

As the MOA will be expiring on 11 October 2022, the parties have mutually agreed to extend the validity of the MOA for another period of twelve (12) months till 12 October 2023.