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 Tech Kheong 


 


Fong
Tech 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%


*Estimated a workforce of 200-250 labors are required for the installation
of the project.