PT MNC Vision Network Tbk (IPTV) and Malacca Straits Acquisition Company Limited (NASDAQ: MLAC) have signed a business combination agreement, which regulates the merger between IPTV's subsidiary and NASDAQ: MLAC).

The two parties have signed a complete business combination agreement on March 22, 2021.

The agreement is accompanied by postponement conditions that each party must fulfill as a condition for the completion of the contract.

"If the fulfillment can be done, it is expected that it will have a positive impact on the company's financial performance," said IPTV Corporate Secretary Muharzi Hasril in the IDX disclosure on Thursday (25/3).

Malacca Straits Acquisition Company Limited is a special purpose acquisition company whose shares are publicly traded on the Nasdaq Stock Exchange and led by CEO Kenneth Ng.