Harn Len Corporation Berhad announced that the Company had on 13 August 2023 signed a Memorandum of Understanding (MoU) with Jutawan Enterprise to explore pineapple plantation business. Upon signing of this Agreement, both parties shall exchange information and documents to study the feasibility of the plantation business including but no limited to duties and responsibilities for each party, costing and the budgets, location and logistics arrangements as well as responsible personnel arrangements. Through this collaboration, HARNLEN will be able to participate in the development and management of pineapples without worrying about sales, because Jutawan Enterprise is the large exporter of pineapple products in the local area.

For Jutawan Enterprise, they aim to secure more fruit products to stabilize and strengthen their supply chain, considering that they are one of the major fruit exporters to the Middle East. This is in line with the growth and business strategy of HARNLEN, as the company completed the Rompin land acquisition on June and plans to expand into the pineapple business. The salient terms of the MOU are, amongst others, as follows: Upon signing of this Agreement, the Parties shall exchange information and documents to study the feasibility of the Plantation Business including without limitation the following details and particulars: Duties and responsibilities to be undertaken by each Party.

Costing and the budgets required; Location and logistics arrangements; Responsible personnels and their qualifications required; and Others applicable. This Agreement shall have an effective period of six months commencing on the Effective Date. Upon or prior to the expiry of the aforementioned tenure, the Parties shall decide as whether definitive agreement shall be formulated in relation to the proposed Plantation Business subject to such terms and conditions as mutually agreed by the Parties.

Either Party shall have the discretion to terminate this Agreement by serving prior two months' written notice to the other Party. In relation hereto, all Parties shall cease to have further rights and obligations against each other in accordance with this Agreement after the termination/expiry save for antecedent breaches (if any).Each Party shall retain all rights in their respective existing Intellectual Property(hereinafter defined) (including any contribution made by a Party herein) and nothing contained in this Agreement nor the use of the Intellectual Property on the publicity, advertising, promotional or other material in relation to this Agreement contained herein shall be construed as giving to any Party any right, title or interest of any nature whatsoever to any of the other Party's Intellectual Property.