PETALING JAYA: LEWEKO RESOURCES BHD has entered into a memorandum of understanding (MoU) with India-based Shinde Developers Pte Ltd to explore a licensing agreement.
In a filing with Bursa Malaysia, the timber and precast concrete products company said the agreement involved the use of Leweko subsidiary Dura Technology Sdn Bhd’s know-how by Shinde.
It is in relation to formulations, processes and intellectual property rights with respect to the Ultra-High Performance Cementitious Composite Technology, as registered and patented in Malaysia.
The licensing agreement shall be used for the manufacturing, distribution, sales, export and marketing of products by Shinde under the brand “DURA” within the territory of India, Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka.
“The MoU is intended to reflect the desire of Dura and Shinde to work towards the matters contained in the MoU and to form a basis for further discussions and negotiations between both parties for the finalisation, execution and delivery of the licensing agreement.
“Both parties have agreed to finalise, enter into and execute the licensing agreement within 60 days from the date of execution of the MoU,” said Leweko.