Document:

24th June 2019

PHOENIX PLUS INTERNATIONAL LIMITED

17/F, THE WORKSTATION,

43 - 45, LYNDHURST TERRACE,

CENTRAL, HONG KONG.

 

Dear Sir,

Re : APPOINTMENT LETTER AS TECHNICAL
CONSULTANT

Refer to the above matter we hereby
appoint your company as our Technical Consultant with the scope of works as the following:

1) Market and site
survey on Green Technology Industry

2) Marketing and Technical
Consultation on Solar Energy

Detail of service charges and work schedule
are indicated in Annex 1. This appointment and authorization will be started from 1st July 2019 till 30th
June 2020. The renew of appointment contract will be by writing notice.

Yours Sincerely,

ROOFRAMES METALTECH SDN BHD

 

/s/Lee Dexion

....................................

Lee Dexion

Business Development Manager

 

    	 

    	 

    

 ANNEX 1

	Date/ Schedule	
        Description

         
	
        Charges

        (HK Dollar)

	July 2019 	Green Technology Industry Overview & Training	80,000.00
	August - October 2019	Monthly consultation fee	120,000.00
	November 2019	Monthly Consultation fee + Site Survey	100,000.00
	December 2019 - March 2020	Monthly Consultation fee 	160,000.00
	April 2020	Monthly Consultation fee + Site Survey	100,000.00
	May 2020	Monthly Consultation fee 	40,000.00
	June 2020	Monthly Consultation fee + Handling over	
        70,000.00

         

Total Charges: HKD 670,000.00 

*Refer to Appendix

 

Term & Conditions

1.                  
Undertaking and Convenant by The Technical Consultant

		i.	Act diligently and in good faith towards the Rooframes Metaltech
Sdn. Bhd (here after The Company)

		ii.	Shall act in the interest of The Company and not allow its interests
to conflict or contradict with the duties that it owes to The Company

		iii.	Achieve the commitment undertaken herein.

		iv.	Shall ensure that all information and other particulars provided
by The Company (either in written or verbal) shall be secured appropriately and shall not revealed to any other parties.

		v.	Use its best endeavors to keep all information which is disclosed
to the technical service provider by The Company pursuant to or in connection with this Agreement (whether orally or in writing,
and whether or not such information is expressly stated to be confidential or marked as such (hereinafter referred to as “Restricted
Information”) confidential and accordingly not to disclose any Restricted Information
to any other person;

		vi.	Any employees, directors, officers, agent advisers and representative
of the technical service provider or of any the aforementioned persons using its best endeavors to ensure that the person in question
keeps the same confidential and does not use the same except for the purposes for which the disclosure is made.

2.                  
Force Majeure

Notwithstanding anything to the contrary
herein contained The Company shall not be liable to the participant and/or Technical Service Provider for any failure to fulfil
any of the terms in this Agreement if such fulfilment is delayed, hindered or prevented by force majeure including but not limited
to acts of God, delayed in obtaining approvals by the government or State Authority, riot or war or any other circumstances of
whatsoever nature beyond the control of The Company. In any of the aforesaid cases, it is fair and reasonable for The Company
to seek extension of time for the completion or fulfilment hereunder shall be final and binding.

3.                  
Miscellaneous 

		i.	The Annex 1 hereto shall be taken read and construed as an essential
part of this Agreement.

		ii.	Any special Conditions/Appendix/Annexure (if any) of this Agreement
are incorporated in the Annex 1 hereto, shall be incorporated in this Agreement.

		iii.	In the event that the terms (if any) contained in the Annex 1 is
different or inconsistent with the other terms or clauses contained in this Agreement, the term contained in the Annex 1 as shall
prevail but only to the extent that such term are different from the other terms or clauses contained in this Agreement.

		iv.	Any statement or certificate from the company and/or its accountant
shall be deemed to be correct, conclusive and binding on the party herein, save and except for manifest error. 

		v.	Time wherever mentioned in this Agreement shall be of the essence.

		vi.	The content herein cannot be change except by a written amend. 

___________________________________________________________________________

I, Fong Teck Kheong (Passport No.:
A41470362) the undersigned do hereby agree to the above proposal and will fulfil the scope of supply during the appointment duration.

/s/Fong Teck Kheong

Name: Fong Teck Kheong

Director

Phoenix Plus International Limited

Date: 25/6/2019

 

	Appendix	 
	 	 	 
	Project Site: 	Rooframes Metaltech Sdn Bhd 
	Address:	A-03-02, Street Mall, One South, Jalan OS, Taman Serdang Perdana, Seksyen 6, 43300 Seri Kembangan.
	Project consultant:	Kong Kok King
	 	 
	1.	Green Technology Industry overview & Training
	 	Service details:	Solar plant potential in malaysia
	 	Trainer:	Kong Kok King
	 	Date & Time:	15/07/2019 - 19/07/2019 (09:00am-17:00pm)
	 	 	 
	2.	Monthly consultancy service details:
	 	(I)            Construction engineering works design
	 	(II)          Power plant basic design  
	 	 	 
	 	In charge by:	Kong Kok King
	 	Date & Time (Part I):	10/08/2019-30/08/2019 (09:00am-17:30pm)
	 	Project Site (Part I):	Semenyih
	 	Date & Time (Part II):	20/09/2019-15/10/2019 (08:00am-17:00pm)
	 	Project Site (Part II):	Office
	 	 	 
	3.	Service details:	Forest land development and study
	 	In charge by:	Kong Kok King
	 	Project Site:	Semenyih 
	 	Date & Time:	02/11/2019-20/11/2019 (09:00am-17:30pm)
	 	 	 
	 	 	 
	4.	Monthly consultancy service details:
	(I)             Engineering, Procurement and Construction
	(II)          Construction plan notification
	(III)         Equipment procurement and transportation
	 	 	 
	 	In charge by:	Kong Kok King
	 	Project Site:	Semenyih
	 	Date & Time (Part I) :	To be confirm
	 	Date & Time (Part II) :	To be confirm
	 	Date & Time (Part III) :	To be confirm
	 	 	 
	5.	Service details:	Creation, construction and civil engineering
	 	In charge by:	Kong Kok King
	 	Project Site:	Semenyih
	 	Date & Time:	To be confirm
	 	 	 
	
         

         

        6.
	
         

         

        Service details:
	
         

         

        Interconnection equipment

	 	In charge by:	Kong Kok King
	 	Project Site:	Semenyih
	 	Date & Time:	To be confirm
	 	 	 
	7.	Service details:	Electric Power Interconnection Construction
	 	In charge by:	Kong Kok King
	 	Project Site:	Semenyih
	 	Date & Time:	To be confirmCOLLABORATION
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.

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