Permaju Industries Inks Mou To Distribute Automotive Air Purification Products

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Permaju Industries Bhd’s unit is proposing to sell air purification products to its customers in the automotive sector.

In a filing with the stock exchange, Permaju said its wholly-owned subsidiary Cergaz Autohaus Sdn Bhd has entered into a memorandum of understanding (MoU) with Air For Life (M) Sdn Bhd (AFLM).

Permaju said that AFLM’s products are based on technology developed by the North America Space Agency (NASA), which was used to aid in keeping astronauts healthy on space missions.

The MoU is intended for both parties to work towards the appointment of Cergaz Autohaus as a non-exclusive sub-distributor to sell and market AFLM’s products to its customers in the automotive sector, Permaju said.

Cergaz Autohaus is currently an authorised dealer for Volkswagen cars.

“The entire world is fighting with the Covid-19 pandemic and the demand of Air For Life equipment is increasing exponentially.

“The main objective of signing this MoU is to introduce Air For Life products that help to make our environment safer after the Covid-19 pandemic and increased revenue in our group’s automotive division and corporate customers,” said Permaju executive director Yvonne Chai.

The MoU will be valid for a period of three months, Permaju said.

Permaju’s share price fell four sen or 5.8% to 65 sen, giving the group a market capitalisation of RM127.36 million.

Source THEEDGEMARKETS

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