TAIPEI CITY, Taiwan, Jan. 20, 2017 /PRNewswire/ -- NowNews Digital Media Technology Co., Ltd. ("NDMT" or "the Company") (OTCQB: NDMT), a media company that provides news and multimedia platform services, is pleased to announce that the Company has entered into a cooperation agreement (the "Agreement") with Earl International Development Sdn. Bhd. ("Earl"), a Malaysian company on January 14, 2017. Pursuant to this Agreement, Earl appointed the Company as its general cooperative partner to solicit international construction companies for the "Prefer 1 Malaysia" ("PR1MA") project, which was established by the Malaysian government and aims to build one million PR1MA homes in the next ten years.
The term of the Agreement is 11 years and the Company shall be compensated based on a commission equal to 5% of the total construction price of the construction contract it is involved in awards, which construction price shall be agreed upon by the Company and Earl pursuant to such construction contract executed with such construction company during the term of the Agreement.
"We're thrilled to announce the cooperation with the witness of six Malaysian Datuks. It's a milestone of our strategic development in Southeast Asia", says Shuo-Wei Shih, CEO of NDMT. "We are looking forward to bringing more international resources to this project and bringing homes to millions of Malaysians."
"Prefer 1 Malaysia" ("PR1MA") is a national housing plan approved by the Ministry of Finance in order to promote national economic development and create a harmonious society. The project is developed by Malaysian Ministry of Finance Karak Strategic Development and Earl International Development which led by Dato' Sri Yuhao Aixinjueluo. Teams from United States, China, Vietnam, Hong Kong, Taiwan will implement this project under the guidance of modern smart city planning.
NowNews Digital Media Technology Co. Ltd. is a U.S.-listed media holding company focusing on the global Chinese market. The Company's holdings in the media space include digital media, movie production and distribution, and music copyright. The digital media business engages in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets. The Company's subsidiary NOWnews is the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. The movie production and distribution business engages in Internet movie, Internet drama and Internet show production, foreign movie import and production, movie marketing and advertising, and Internet personality business. The Company's music copyright business owns copyright to more than 3000 hit pop songs and provides a full range of Karaoke products. In addition, the Company has investments in the banking industry in Southeast Asia.
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SOURCE NowNews Digital Media Technology Co., Ltd.