HO WAH GENTING BERHAD INKS MOU WITH SHANGHAI MAICUI INFORMATION TECHNOLOGY CO., LTD TO ESTABLISH A BLOCKCHAIN-BASED TRACKING SYSTEM

KUALA LUMPUR, 27 APRIL 2021 – Ho Wah Genting Berhad (“HWGB” or the “Company”) (Bursa Stock Code: 9601) today announced that its subsidiary, HWGB Blockchain & Digitaltech Sdn Bhd (“HWGB Blockchain & Digitaltech”) had entered into a Memorandum of Understanding with Shanghai Maicui Information Technology Co., Ltd (“MAICUI IT”) to establish a basis of co-operation and collaboration between the HWGB Blockchain & Digitaltech and MAICUI IT in relation to a tracking system for purposes such as the electric vehicle charging station, vaccine, e-visa, and others.

 Established on 8 July 2019, MAICUI IT is principally engaged in technology development, technical consulting, technical services, technology transfer, computer data processing, lease of own equipment, business management consulting, business information consulting, and public relations in the fields of computer information technology, communication technology, electronic technology, intelligent technology, and multimedia technology, and others.

This collaboration with MAICUI IT allows HWGB Blockchain & Digitaltech to launch a tracking system for purposes such as electric vehicle charging station, vaccine, e-visa and others. In turn MAICUI IT will be developing the blockchain technology for HWGB Blockchain & Digitaltech’s Tracking System as they have the necessary expertise in developing secure applications including blockchain, mobile app, web and UI/UX design and other technologies that are known under the brand name of SkyChain Technology.

HWGB Blockchain & Digitaltech was incorporated on 17 February 2020 under the name of 3H Healthtech AI Sdn Bhd and changed to its current name on 4 March 2021.  The intended principal activities involved the provision of services for the system for decentralized, distributed ledger technology that records the provenance of a digital asset and services for digital technology related.

IT and Digital Director of HWGB Blockchain & Digitaltech, Mr. Bernard Lim Wee Kiat said: “The collaboration with MAICUI IT represents our commitment in venturing into digital technology as we believe that this is the future of business innovation trends and practices. We are confident that this collaboration will also spur HWGB expansion into the development of digital technology and also the EV industry in Malaysia with the introduction of the tracking system

***