PDZ Holdings Bhd announced reference is made to the Company's announcement on 17 July 2020 in relation to the Collaboration Agreement entered into between PDZ and Sanichi Technology Berhad (Sanichi) (hereinafter referred to collectively as "Parties" and individually as "Party") to jointly develop and operate a regional e-Commerce logistics hub ("Logistics Hub") on the land located in Desaru, Johor ("the Land"). The Board of Directors of PDZ ("Board") wishes to announce that the Company has on 30 October 2020 entered into a Joint Venture Agreement ("JV Agreement") with Sanichi to formalise and set out the terms and conditions of their joint venture and of regulating their relationship with each other via their respective investment participation in the joint venture through a joint venture company ("JV Company") to be incorporated ("Proposed Joint Venture"). PDZ and Sanichi have agreed that within thirty (30) days of the execution of the JV Agreement, a JV Company shall be formed with issued share capital of MYR 1,000.00 only comprising 1,000 ordinary shares to be held by the Parties in the following proportion: PDZ 400 shares (40%) and Sanichi 600 shares (60%).