1. INTRODUCTION

The Board of Directors of Infomina is pleased to announce that Infomina (Thailand) Co., Ltd. (“Infomina TH”), a subsidiary of Infomina, had executed the Software Subscription Agreement (“SSA”) with Bangkok Bank Public Company Limited (“BBL”) on 5 October 2023.

2. DETAILS OF SSA

The SSA is for the provision of technology application and infrastructure operations, maintenance and support services to BBL, over a period of three (3) years commencing from 31 March 2023 to 30 March 2026 (“Period”).

The value for the SSA is approximately USD7.5 mil (equivalent to RM35.4 mil) (excluding value added tax) for the entire Period.

3. RISK FACTOR

The risk factors associated with the SSA are the same as those presently faced by Infomina TH. The main risk for the SSA will be the currency risk where fluctuations in foreign currency exchange rates, particularly in USD, which any unfavourable fluctuations may adversely affect our financial performance and profit margin.

4. FINANCIAL EFFECTS

The SSA is expected to contribute positively to the earnings of the Infomina Group over the Period.

5. NTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

The acceptance of the SSA is in the ordinary course of business and is in the best interest of the Company.

None of the Directors, major shareholders of Infomina and/or persons connected with them has any interest, whether direct or indirect, in the SSA.

This announcement is dated 5 October 2023.