UNITED OVERSEAS AUSTRALIA LTD
ACN 009 245 890
Suite B1, 661 Newcastle Street, LEEDERVILLE WA 6007 '
P.O. Box 51, Leederville, W.A. 6902
Tel: (+618) 9217 9800 • Fax: (+618) 9217 9899
ASX Announcement
15 December 2021
MEMORANDUM OF UNDERSTANDING
The Board of United Overseas Australia Ltd (ASX:UOS, "Company") is pleased to announce that a member of the United Overseas Australia Group ("UOA Group"), UOA Vietnam BDC Pte Ltd ("UOAV") has entered into a legally binding Memorandum of Understanding ("Memorandum") with Capitaland (Vietnam) Holdings Pte Ltd ("CLV").
The Memorandum provides a commitment between the parties for the consideration of and collaboration on prospective land development projects in Vietnam that would be of interest to the UOA Group and would be suitable for joint development by the parties. Where a suitable project is identified and agreed between the parties, the venture would have an initial investment allocation proportion as 30% to UOAV and 70% to CLV, unless otherwise agreed by the parties.
The Memorandum provides for collaboration between the parties to continue until 30 June 2022.
In entering the Memorandum, the Company now has another mechanism for seeking out opportunities for the Group to expand its investment within the region as the COVID-19 pandemic restrictions start to ease.
For further enquiries, please contact:
Mr Stuart Third
Company Secretary
stuart_third@winduss.com.au
+61 (0)8 9217 9800
+61 413 946 935
MALAYSIAN OFFICE:
UOA Corporate Tower
Lobby A, Avenue 10, The Vertical, Bangsar South City
No. 8, Jalan Kerinchi, 59200 KUALA LUMPUR
Tel: (+603) 2245 9188 • Fax: (+603) 2245 9128
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UOA - United Overseas Australia Limited published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 09:28:07 UTC.