Encorp Bhd Announces Termination Of Joint Venture Agreement Between Encorp Must Sdn Bhd, Indi Makmur Sdn Bhd And Lunarhati Sdn Bhd
Encorp Bhd announced that Encorp Must Sdn Bhd (EMSB), a wholly owned subsidiary of Encorp, Indi Makmur Sdn Bhd (Indi Makmur) and Lunarhati Sdn Bhd (Lunarhati) had on April 3, 2013 collectively agreed to terminate the JVA for non-fulfillment of the conditions precedent of the JVA. Upon termination, Indi Makmur and Lunarhati shall refund to EMSB the advance consideration of RMB5 million pursuant to the terms of the JVA.
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