AWC Bhd and Universiti Sains Malaysia are exploring the possibility of focusing on the provision of electric bikes and related services and solutions in the campus.

KUALA LUMPUR (Oct 18): AWC Bhd and Universiti Sains Malaysia (USM) have entered into a memorandum of understanding (MoU) to explore opportunities in a smart and green campus with focus on e-mobility and related services and solutions.

In a Bursa Malaysia announcement on Wednesday, the group said both parties are exploring the possibility of focusing on the provision of electric bikes and related services and solutions within the scope of the concept.

“The MOU will enable the parties to explore opportunities in a smart and green campus with focus on e-mobility and related services and solutions.

“The collaboration is in line with the overall strategy of the group to focus on growing its environmental, social and governance (ESG) related businesses and facilitate the continuing growth of the group’s core business as a diverse ESG player,” it said.

The MOU is not expected to have any material immediate effect on the earnings per share, net assets per share and gearing of AWC for the financial year ending June 30, 2024 (FY2024).

Shares in AWC closed 1.5 sen or 2.70% lower to 54 sen, which translates into a market capitalization of RM172.7 million.