The Board of Directors of Majuperak Holdings Berhad ("MHB") announced that MHB, had on 4 October 2022 entered into a Memorandum of Understanding ("MoU") with Perbadanan Kemajuan Negeri Perak (PKNPk), its immediate holding corporation, to establish synergistic collaborative initiatives involving utilisation of MHB's expertise to jointly develop PKNPk's assets and proposed appointment of MHB as the master developer of part of PKNPk's development projects in Perak. PKNPk and MHB shall hereinafter be collectively referred to as the "Parties" and individually referred to as a "Party". The intended collaboration between the Parties inter alia involves: joint development of several of PKNPk's strategic landbanks in Perak into residential property projects with MHB acting as a master developer; appointment of MHB's subsidiary to undertake a mix development property project in Mukim of Bota, Perak; initiatives to enhance potential of identified investment property assets; development of a floating solar farm in Perak which will intensify and expand MHB's existing renewable energy business; and any other projects deemed suitable and appropriate by mutual agreement of the Parties, from time to time.