Semk Holdings International Limited entered into memorandum of understanding (MOU) with Madworld Advisory Limited (JV partner). Pursuant to the MOU, the company and the JV partner shall within two months from the date of the MOU, enter into a joint venture agreement (JV agreement) to establish a joint venture entity (JV company) intended to be principally engaged in development of artworks and IPs owned by the Group into NFTs, promote, market, list, offer to sell/distribute NFTs and their physical forms (if any) on the Platform(s), collaborate with other renowned brands and IPs to develop NFTs; and continuous involvement on the virtual world through investment in and development of games and application of NFTs. The MOU serves to provide a framework of future collaborations between the parties.