The Penang-based test equipment manufacturer announced today that the MoU signed between its wholly owned subsidiary Aemulus Corp Sdn Bhd and PSC on Aug 22 did not have a contract value.
“There is no contract value stated as this MoU serves as an intention of the parties to collaborate to develop a Microwave Test Subsystem. Unless otherwise mutually agreed in writing, this MoU shall be terminated on the second anniversary of the effective date,” Aemulus said.
“This MoU shall have no material effect on the net assets and gearing of the company for the financial year ending Sept 30, 2016, but is anticipated to contribute positively to the earnings of the company should there be any successfully development of Microwave Test Subsystem from the collaborative effort,” it added.
PSC is the founder of radio-frequency (RF) silicon on insulator. It is a leading fabless provider of high-performance, integrated RF solutions.