UCREST

0.100

-0.005 (-4.8%)

MASTER SERVICE AGREEMENT BETWEEN UCREST BERHAD'S WHOLLY OWNED SUBSIDIARY, UCREST TECHNOLOGY LIMITED ("UTL") AND LIMITED LIABILITY COMPANY HUMAN VACCINE ("HUMAN VACCINE"), A WHOLLY OWNED SUBSIDIARY OF RUSSIAN DIRECT INVESTMENT FUND ("MASTER SERVICE AGREEMENT")

UCREST BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-07092021-00001
Subject MASTER SERVICE AGREEMENT BETWEEN UCREST BERHAD'S WHOLLY OWNED SUBSIDIARY, UCREST TECHNOLOGY LIMITED ("UTL") AND LIMITED LIABILITY COMPANY HUMAN VACCINE ("HUMAN VACCINE"), A WHOLLY OWNED SUBSIDIARY OF RUSSIAN DIRECT INVESTMENT FUND ("MASTER SERVICE AGREEMENT")
Description 
REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) DATED 7 SEPTEMBER 2021 PERTAINING TO THE MASTER SERVICE AGREEMENT BETWEEN UCREST BERHADS WHOLLY OWNED SUBSIDIARY, UCREST TECHNOLOGY LIMITED (UTL) AND LIMITED LIABILITY COMPANY HUMAN VACCINE (HUMAN VACCINE), A WHOLLY OWNED SUBSIDIARY OF RUSSIAN DIRECT INVESTMENT FUND (MASTER SERVICE AGREEMENT)
Query Letter Contents

We refer to your Company’s announcement dated 6 September 2021, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The date of commencement of the Master Service Agreement.
2) The value of the Master Service Agreement or the basis of determination thereof.
3) To quantify the Vaccines to be purchased by Human Vaccine from UTL under the Master Service Agreement.
4) The total capital and investment outlay required to be committed by UCrest Berhad and/or UTL in connection with the Master Service Agreement, the source(s) of funding and the breakdown thereof.
5) The relevant regulatory approvals, permits and/or licenses required to be obtained in order for UTL to perform its responsibilities under the Master Service Agreement. To also state whether UTL has secured any of these regulatory approvals, permits and/or licences, and the relevant dates of application and approval.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

Further to the announcement made by the Company dated 6 September 2021 (“Announcement”), the query by Bursa Securities dated 7 September 2021 (IQL-07092021-00001) and reply to query on 8 September 2021 in relation to the Master Service Agreement. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the earlier announcement.

The Board of Directors of UCrest wish to inform that, the Master Service Agreement ("MSA") was entered to initiate the process of manufacturing the Sputnik V Vaccines (“Vaccine”). The MSA only states the minimum capacity that each contract manufacturer has to commit to produce the vaccines. At this juncture, the qualification and approval of the vaccines have not been done as the samples have not been produced yet. Hence, the quantity to be purchased is not specified in the MSA as neither UCrest nor the contract manufacturers can guarantee when will the vaccine samples be qualified and approved. Once the vaccine samples are qualified and approved, a separate agreement will be entered into to specify the quantity to be purchased. Human Vaccines will issue purchase orders for specific quantity when the vaccine is qualified and approved. There is no regulatory approval, permit or license required from foreign authorities for UCrest Technology Limited to perform its responsibilities under the Master Service Agreement.

This announcement is dated 9 September 2021.


Announcement Info

Company Name UCREST BERHAD
Stock Name UCREST
Date Announced 09 Sep 2021
Category General Announcement for PLC
Reference Number GA1-09092021-00009


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