TT Vision Holdings (TTVHB) announced that its wholly-owned subsidiary, TT Vision Technologies, had secured a purchase order for its solar cell inspection equipment from one of the largest solar cells manufacturers in the world totalling approximately RM6.05 million.
The contract is expected to be fulfilled within 3 to 6 months, and will not have any effect on the share capital and substantial shareholders’ shareholdings of the TTVHB and its subsidiaries. However, the contract is expected to contribute positively towards the future earnings and net assets of the group for the financial year ending 31 December 2023.
The contract is not subject to the approval of the company’s shareholders and/or any relevant regulatory authorities. None of the directors and/or major shareholders and/or persons connected with the directors and/or major shareholders of TTVHB has any direct or indirect interest in the contract.
The board of directors of the company is of the opinion that the contract is in the ordinary course of business and is in the best interest of the group. TTVHB does not foresee any exceptional risk other than the normal operational risks associated with the supply of products and will take the necessary steps to mitigate the risks as and when it occurs based on its past experiences and expertise.
