Avillion Berhad has entered into a Memorandum of Understanding Korean based Sonid Co., Ltd. on the possibility of developing vacation and/or retirement properties at Avillion Admiral Cove, Port Dickson and Langkawi for the Korean market.
Sonid a company listed on KOSDAQ, produces and sells precision chemical materials for displays, including OLED and LCD, as well as wireless electronic tags for IoT applications. Since 2021, Sonid has been actively expanding into real estate development and management, battery recycling, and the robotics and AI sectors through the establishment and acquisition of subsidiaries.
Avillion sees the MOU as a means to collaborate and explore the potential collaboration and business opportunities in Malaysia and Korea.
The company said the agreement will not have any effect on the share capital and substantial shareholders’ shareholdings of the Company.
