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Mobile-health Network Solutions Announces Updated MOU for Acquisition of Malaysian AI Data Centers
Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ: MNDR) ("MNDR" or the "Company"), a leading AI HealthTech
About this update from Mobile-health Network Solutions
[{"type":"text","content":"Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ: MNDR) (\"MNDR\" or the \"Company\"), a leading AI HealthTech platform today announced the signing of a Strategic Cooperation Memorandum of Understanding (\"Strategic MOU\") dated March 15, 2026. This agreement updates the framework established on November 19, 2025, for the acquisition of PP GRID SDN. BHD. (\"PPG\") and its development of high-density artificial intelligence (AI) data centers in Sarawak, Malaysia.\nAccording to the updated Strategic Cooperation MOU, signed on March 15, 2026, with PPG's sole shareholder, Mr. Dato' Ling Tiung Leng (Stanley Ling), MNDR will acquire 100 percent of PPG, including all AI data center assets, from Mr. Ling. In connection with this acquisition, Mr. Ling will facilitate a capital injection of MYR500 million (about US$127 million) to be utilized for the construction of these data centers.\nIn exchange for the PPG assets and the MYR500 million capital injection, Mr. Ling shall receive a 65 percent equity stake in MNDR.\nThe existing MNDR founders will retain majority voting control through their Class B shares.\nAs part of the transaction, MNDR will independently raise at least US$100 million to finance the future data center development and add value to the merger.\nThe Strategic Cooperation MOU is non-binding and subject to definitive agreement.\nThis Strategic Cooperation MOU served as the critical update to reflect current restructuring and funding needs. While the MOUs established the \"ProjectCo\" framework and broad equity swap terms, they led directly to the definitive Sale and Purchase Agreement (SPA) executed on March 16, 2026.\n\"This updated MOU framework better positions MNDR to secure critical AI computing capacity,\" said Mobile-health Network Solutions Co-CEO Dr. Siaw Tung Yeng. \"We believe this acquisition will provide the linchpin for our global expansion, allowing us to reduce long-term costs for our AI-powered health ecosystem while launching new services like Token as a Service (TaaS) and Healthcare Platform as a Service (APaaS).\"\nMr. Ling added, \"This revised agreement advances our shared vision to scale AI data center capacity across our region. By contributing these assets to a consolidated platform with MNDR, we can accelerate development timelines and attract the i...