Exhibit
10.2


 


COLLABORATION
AGREEMENT








 


This
Agreement is made between Phoenix Plus International Limited, a wholly owned subsidiary of Phoenix Plus Corp (hereafter referred
as “PPIL”), a private Limited company incorporated in Hong Kong and WWB Corporation, a subsidiary of Abalance
Corporation listed in Tokyo Stock Exchange (hereafter referred as “WWB”), a company based in Tokyo Japan, on 2
October 2019 to market and perform certain complementary business activities, particularly the solar farm project in East
Coast Sabah (“Project”). The estimated Project revenue, cost and time are stipulated under Appendix 1.


 


	1.0	INFORMATION
    ON PPIL and WWB


 


PPIL,
principally involved in providing technical consultancy on solar power systems and consultancy on green energy solutions, with
an additional focus on the commercialization of a targeted portfolio of solar products (amorphous thin film solar panels and ancillary
products) and technologies for a wide range of application including electrical power production.


 


WWB,
principally involved in the providing solar power generation and also engaged in planning, manufacturing, import and export and
sale of next-generation green energy products and construction of solar panel.


 


PPIL
and WWB shall, hereinafter be collectively referred to as the “Parties” or individually as the “Party”
as the case may be.


 


	2.0	SALIENT
    TERMS OF THE AGREEMENT


 


	 	a)	Scope


 


The
Parties shall, in professional manner, take all steps necessary to market and perform its business activities respectively and
to expand renewable energy business.


 


PPIL
shall providing installation services and solutions for the development of solar panel in Sabah, Malaysia and WWB will providing
solar energy product such as solar panels, solar inverters, solar pumps, mounting frames, trackers, accessories and others and
also transferring of solar energy technology from Japan to develop sustainable renewable energy ecosystem for the project.


 


The
Parties will collaborate to execute the solar farm project in East Coast, Sabah, in the event PPIL successful in the tender exercise
of the aforesaid project.


 


	 	b)	Duration


 


The
Agreement shall be effective as of the date set forth in this Agreement and renewed automatically every year.


 


	 	c)	Termination


 


In
the event PPIL is successful in the tender exercise for the project, either party that wishes to terminate the agreement, shall
give one (1) month notice in advance to the other party. Any unfinished projects that are awarded before such termination are
deemed to be completed fully by the other party.


 




    	 



    	 



    

 





	 	d)	Intellectual
    Property


 


Information,
materials, products and deliverables developed by either Party shall be the property of the respective Parties performing the
work or creating the information.


 


	3.0	RATIONALE
    FOR THE AGREEMENT


 


The
objective of the Agreement is to tap into the know-how and technological advancement of WWB in the area of solar technologies
to further enhance PPIL expertise in the solar business. With the technological know-how from WWB. PPIL is looking at building
our future solar plant with greater efficiency at an optimum construction cost.





 


	4.0	ESTIMATED
    TIMEFRAME AND COMPLETION


 


The
agreement shall take effect as at the date of the agreement and renewed automatically every year. Either party can terminate this
agreement by giving one-month notice in advance to the other party.


 


This
Agreement is governed by Hong Kong law and the parties irrevocably submit to the exclusive jurisdiction of the Hong Kong courts
to settle any dispute arising out of or in connection with this Agreement.


 


	Authorized
    Signatories:-	 
	 	 
	/s/
    Fong Teck Kheong	 
	 	 
	Fong
    Teck Kheong	 
	Director	 
	Phoenix
    Plus International Limited 	 
	 	 
	/s/
    Ryu Junsei	 
	 	 
	Ryu
    Junsei	 
	Chairman	 
	WWB
    Corporation 	 





 


	Phoenix
    Plus International Limited and WWB Corporation	Appendix
    1
	Solar
    Farm Project in Sabah: Overview	 
	 	 
	Expected
    Capacity	50
    Megawatt (Mw)
	Project
    term	20
    years
	Expected
    construction period	3
    years
	Land	25
    years lease land
	Land
    Size	150
    acres (Sandakan, Sabah)
	Expected
    cost ( Note 1)	USD
    45 million
	Expected
    Revenue	USD
    6 million per year
	Expecting
    Breakeven	8
    years
	Expected
    Total Revenue in 20 years	USD
    120 million


 


Note
1:Cost Breakdown


 


	Particulars	 	Amount (in USD)	 	Percentage	 
	Solar Panel	 	20.25 million	 	 	45	%
	Main Equipment	 	4.5 million	 	 	10	%
	Balance System	 	4.5 million	 	 	10	%
	Infrastructure	 	6.75 million	 	 	15	%
	Interconnection	 	4.5 million	 	 	10	%
	Miscellaneous & Staff Costs*	 	4.5 million	 	 	10	%
	Total	 	USD 45 million	 	 	100	%