PDZ Holdings Bhd (PDZ) announced termination of memorandum of understanding (MOU) entered between PDZ and Protev Asia Limited (protev). The company announced refer to the announcements dated 15 November 2021, 30 November 2021, 24 February 2022, 30 May 2022, 26 August 2022, 25 November 2022, 27 February 2023, 30 May 2023 and 28 August 2023 pertaining to the MOU entered between PDZ and Protev to assist and support each other in the collaboration of providing gloves for the European and other export markets. The board of directors of PDZ (Board) announced that, following the expiry of the MOU on 14 November 2023 and with no agreement to extend it, the MOU has lapsed and is deemed terminated with immediate effect (Termination).

The termination is not expected to have any material impact on the earnings, net assets, gearing, share capital and substantial shareholders? shareholding of the company for the financial year ending 31 December 2023.