On behalf of the Board of Directors of Straits ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that Straits had, entered into the following :-

i.          SMF and TMDEL had on 7 February 2024 entered into a conditional shares sale and purchase agreement with Dato' Suhaimi and Mr. Goo (collectively referred to as the "Vendors of TMD") for the proposed acquisition by SMF of 4,500,000 TMD Shares ("TMD Sale Share(s)"), representing 30% of the equity interest in TMD for a purchase consideration of RM9,720,989 (equivalent to USD2,085,557) ("TMD Purchase Consideration") to be satisfied entirely via cash or the issuance of new TMDEL Shares or a combination of both ("TMD SSA"); and

ii.          SMF and TMDEL had on 7 February 2024 entered into a conditional shares sale agreement with Platinum Gate for the proposed acquisition by SMF of 49,000 SMS Shares ("SMS Sale Share(s)"), representing 49% of the equity interest in SMS for a purchase consideration of RM3,324,902 (equivalent to USD713,330) ("SMS Purchase Consideration") to be satisfied entirely via cash or the issuance of new TMDEL Shares or a combination of both ("SMS SSA").

Further details of the Proposed Acquisitions are set out in the attachment.

This announcement is dated 7 February 2024.