Awinco Sdn Bhd Enters Contra Basis Material Supply Agreement with Developer Mr. Ngui Sze Chiat for Double Storey Shop House Construction

Awinco Sdn Bhd, the supplier, and Mr. Ngui Sze Chiat, the developer, have signed an MOU for Awinco to provide materials for Mr. Ngui’s project. The arrangement is on a contra basis, meaning the materials supplied will be of equivalent value to that of one double-storey shop house. This implies that instead of receiving payment in cash, Awinco will be compensated with materials of comparable worth to the property mentioned. It’s a barter-like agreement often seen in business dealings, particularly in construction and development projects.