KUALA LUMPUR, MALAYSIA / ACCESSWIRE / November 9, 2023 / Homegrown Nasdaq listed AGAPE ATP Corporation ("ATPC" or the "Company")(NASDAQ:ATPC) intends to finance the construction of 50 electric vehicle ("EV") charging stations by Volt Industries Sdn. Bhd. ("Volt Industries") in Pahang as part of the Company's strategy to develop and offer sustainable energy solutions.
On 4th November, 2023, ATPC signed a Memorandum of Agreement (MoA) with Volt Industries, pursuant to which the Company intends to acquire a 51% stake in Volt Industries, a developer of EV charging stations based in Pahang, and the Company also intends to finance the construction of 50 EV charging stations by Volt Industries. ATPC, which was recently listed on Nasdaq, specializes in sustainable global ‘wellness' ecosystem and the development and production of advanced technology solutions for the energy sector.
The MoA was attended by founder and Chief Executive Officer (CEO) of ATPC Dato' Sri Dr. How Kok Choong, CEO of Volt Industries Datuk Tan Say Jim, founder and CEO of Oriental Industries Enterprise Sdn. Bhd. Edward Ang Mou Lee and special guest Member of the Pahang State Executive Council, YB Dato' Mohamad Nizar bin Dato' Sri Mohamad Najib.
Dato' Sri Dr. How Kok Choong, the founder of AGAPE ATP, said: "Our recent IPO on Nasdaq was just the beginning. This MoA signifies ATPC's expansion into the sustainable energy space, reflecting our ambitions on both the local and global stages. In forging this partnership with Volt Industries, we're not merely building charging stations, we're powering Malaysia's sustainable future. This partnership underscores our unyielding commitment to spearheading a green transformation on the global stage." He explained, "The main purpose of this transformative partnership is ATPC's strategic venture into Volt Industries, acquiring 51% share, where this acquisition underscores ATPC's plans to be at the forefront of Malaysia's EV transformation. This project will be funded privately, with no government subsidies."
Under the MoA, ATPC will explore the project's financial viability by securing primary funding as well as seeking additional capital from other avenues. Volt Industries will initiate the project's groundwork, including acquiring all necessary permits and licenses as well as ensure full compliance with local regulations together with construction work.
Datuk Tan Say Jim, Chief Executive Officer of Volt Industries said, "Our technical expertise spans the entire value chain from design to operations and we see our expertise and strengths complimenting ATPC's strategies and corporate direction. We look forward to working with ATPC to roll out the 50 EV charging stations across Pahang that will reshape the state's transportation landscape."
About Agape ATP Corporation
AGAPE ATP CORPORATION is a company primarily operating in ASEAN region that supplies wellness products and health solution advisory services, including supplements to assist in cell metabolism, detoxification, blood circulation, anti-aging and products designed to improve the overall health system of the human body.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
Contact:
Corporate Affairs & Investor Relations Department
Email: [email protected]
Tel: +603-7984 2160
SOURCE: Agape ATP Corporation