Announcement Details/Table Section :
The Board of Directors of Focus Point (“Board”) wishes to announce that its wholly-owned subsidiary, Focus Point Vision Care Group Sdn Bhd (“FPVCG”) had today signed a Memorandum of Understanding ("MoU") with Twintech International University College of Technology, Sri Damansara Campus ("TWINTECH"), details of which are set out in the following sections.
2 INFORMATION ON TWINTECH
TWINTECH (Registration no: KPT/JPS/DFT/US/W07) is a private institution of higher learning registered under the Private Institution of Higher Learning Act 1996, operated by Twintech Holdings Sdn Bhd and having an address at Blok E, Pusat Perdagangan Sri Damansara, Persiaran Industri, Bandar Sri Damansara, 52200 Kuala Lumpur.
TWINTECH is a university college founded with the purpose of providing higher academic opportunities for students to achieve academic excellence in various fields as approved by the Ministry of Higher Education of Malaysia.
3 SALIENT TERMS OF MoU
3.1 TWINTECH and FPVCG have agreed to enter into an understanding with each other to develop a long term clinical attachment programme which include, but not limited to the reciprocal exchange, to engage in research collaboration projects and to promote other activities related to optometry.
3.2 TWINTECH and FPVCG agreed to develop their relationship for the mutual benefit of both parties in jointly promoting friendship between both parties, to increase TWINTECH’s students competency in optometric field and to expose them to a wide experiential learning at an undergraduate level.
3.3 The MoU sets out FPVCG will accept students from TWINTECH for the clinical attachment programme by batches with the maximum 25 students per batch. Each batch of TWINTECH’s students shall undergo one semester (14 weeks) clinical attachment programme at FPVCG and each batch shall be for a period of one semester at one time.
4 RATIONALE FOR MoU
The MoU is expected to promote and enhance the branding of Focus Point in the long term.
5 FINANCIAL EFFECTS OF THE MoU
The MoU is not expected to have any material effect on the earnings, net assets and gearing of the Group for the financial year ending 31 December 2012.
6 DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
The MoU will not have any effect on the issued and paid-up share capital of the Company as well as its substantial shareholders’ shareholdings.
None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, direct and/or indirect in the MoU.
This announcement is dated 28 February 2012.