KUALA LUMPUR: SMTrack Bhd and four other listed companies, namely Jiankun International Bhd, Sersol Bhd, MQ Technologies Berhad and Techna-X Bhd have agreed to allow a one-and- a-half-year old heads of agreement to invest in 5G Infra Tech Solution Sdn Bhd to lapse on 24 May 2023.
The consortium entered into the heads of agreement to invest in 5G Infra Tech on the strength of a Memorandum of Agreement signed between 5G Infra Tech and Ennova Sdn Bhd. In January 2022, Jiankun told Bursa Malaysia in replies to its queries that Ennova was in the final stage of securing 350 telecommunication towers contract to be leased to Digital Nasional Berhad and will kick start this project upon finalisation of definitive agreement with 5G Infra Tech and/or the Consortium.
No follow up announcements were made on the progress of the heads of agreement until it lapsed last month.