Malaysia-listed company Straits Energy Resources Berhad on Monday (8 November) announced a mutual termination over an earlier Heads of Agreement (HOA) between the company and Seashore Technologies Pte. Ltd.
The termination of HOA was mutually agreed by both parties as there is no concrete and sufficient agreement on the proposal, stated Straits.
Singapore-based Seashore Networks is principally a software company building last mile networks with 4G, 5G and wireless networks.
In late September, both parties entered into a HOA aimed at collaborating and participating in the growing wireless network communication business opportunities as part of the 4G and 5G rollout and the digital transformation of the oil and gas industry (O&G) through the Internet of Things (IoT) in Malaysia and regionally.
Related: Straits Energy Resources, Seashore Technologies in HOA for offshore 4G/5G roll out
Photo credit: Kirill Sh from Unsplash
Published: 9 November, 2021
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