NowNews Digital Media Technology Co., Ltd. (OTCQB: NDMT) has entered into a cooperation agreement with Malaysian-based Earl International Development Sdn. Bhd., to become its general cooperative partner to solicit international construction companies for the “Prefer 1 Malaysia” (“PR1MA”) project, the company said.
The PR1MA project was established by the Malaysian government and to build one million PR1MA homes in the next ten years.
The term of the agreement is 11 years and the company shall be compensated based on a commission equal to 5% of the total construction price of the construction contract it is involved in awards, which construction price shall be agreed upon by the company and Earl pursuant to such construction contract executed with such construction company during the term of the agreement.
NowNews Digital Media Technology Co. Ltd. is a US-listed media holding company focusing on the global Chinese market.