PANG KONG, 31 Aug 2026 — Wai Chun Bio-Technology Limited (Wai Chun Bio-Tech, 00660) has entered into a non-binding memorandum of understanding (MOU) with four independent parties—Pahang Aerospace City Development Berhad (PACDB), Baiyuzen Holdings Sdn Bhd, Ennova ICT Pte Ltd, and Radiant (China) Holdings Limited—to explore development of an ultra-large-scale AI data-centre and digital infrastructure platform at Pahang Aerospace City, Malaysia.
The proposed project will be executed via a Malaysian special-purpose vehicle (SPV). Current intentions allocate c.25% of the investment and financing responsibility to Singapore-based Ennova, with the remaining 75% led by BVI-incorporated Radiant. Specific capital commitments, equity splits and Wai Chun Bio-Tech’s economic stake will be finalised in a definitive agreement.
Under the cooperation framework: • PACDB oversees master planning and government liaison. • Baiyuzen handles land preparation and infrastructure for Zone 1. • Ennova contributes AI computing and data-centre technology. • Radiant leads institutional fundraising and capital structure design. • Wai Chun Bio-Tech will focus on data-centre construction, operations, capital-markets advisory and the potential real-world-asset (RWA) tokenisation of physical data-centre assets.
The venture is planned in two phases. Following MOU effectiveness, all parties target completion of planning submissions and formal agreement negotiations within 60 days. Subject to Malaysian regulatory approvals on land use, environmental impact and power-grid connection, Phase 1 construction and commissioning could span 12–36 months. Progression to Phase 2 will depend on Phase 1 outcomes and further developer selection.
Wai Chun Bio-Tech has carried out preliminary assessments of land tenure, government policies and market demand. Comprehensive due diligence—covering legal, engineering and financial aspects—will be undertaken by a joint working group supported by Malaysian advisors before any binding commitment.
The company confirms that the MOU is non-binding except for confidentiality and exclusivity provisions. Any future formal agreement will be evaluated under Hong Kong Listing Rules, including potential notifiable-transaction and reverse-takeover considerations. The proposed RWA tokenisation initiative will adhere to HKEX Guidance Letter GL122-26 on digital-asset activities.
Shareholders and investors are cautioned that project implementation remains uncertain pending formal agreements and regulatory clearances.