The Board of Directors of Asia Media Group Berhad (AMEDIA) announced that AMEDIA had on 10 February 2022, entered into a Collaboration Agreement with Setia Media Sdn Bhd (SMEDIA) to carry out the PJ Smart Gateway Project ("the Project") which has been awarded to SMEDIA. AMEDIA and SMEDIA (`the Parties") have agreed to collaborate on the erection, establishment and operation of advertising billboard LED gantries at identified sites ("Identified Gantries") on terms and conditions as set out in this Agreement. AMEDIA AND SMEDIA agreed to enter into this Agreement to regulate their respective rights and obligations governing the collaboration over the Identified Gantries.

The Agreement will provide the Parties an opportunity to collaboration based on the respective party's strength and forte in the static and digital OOH advertising industry. AMEDIA is targeting to expand its digital advertising services to the out-of-home market segment. It is the intention of the Board to explore business opportunities with SMEDIA, which is mainly engaged in billboard rental and providing static and digital advertising, with the objective of paving a quicker access for AMEDIA to venture into the out-of-home market segment.