The board of directors of SMTrack announced that the Company had on January 29, 2018 entered into a Collaboration Agreement with VFTech Sdn Bhd in respect of the strategic partnership in the implementation of the vessel fuel intelligent tracker with real time vessel (GPS/AIS) tracking system worldwide. A new limited liability company ("New Company") with the following structure will be formed within 30 days from the date of the collaboration agreement. SMTrack Berhad and/or its nominee will hold 51% of total shareholding and VFTech Sdn Bhd and/or his nominee ­will hold 49% of total shareholding.