The board of directors of the Pan Asia Environmental Protection Group Limited announced that on 15 January 2019, the Company entered into a memorandum of understanding with MSC (HONGKONG) LIMITED (MSC), in relation to the forming of a long-term strategic partnership with MSC. Pursuant to the Memorandum of Understanding, the Company and MSC intend to, by way of taking up stakes, mergers and acquisitions or joint ventures, explore the internet services business including preferential top-up services such as catering membership top-up, petrol filling cards top-up, phone call charges top-up and video website membership top-up. The Board considers that the entering into of the Memorandum of Understanding will be beneficial to the Group as it would enable the Parties to leverage on their respective strength, resources and expertise to build a mutually-beneficial strategic relationship.