Unless otherwise defined, the defined terms used in this announcement shall carry the same meaning as those defined in our announcements dated 17 July 2023 and 18 April 2023 in relation to the Proposed Acquisition (“Announcements”).

The Board of Directors of the Company would like to inform that MDSB has completed the due diligence review and both parties had, on even date mutually agreed to enter into an addendum to the Term Sheet (“Addendum”). This Addendum serves to document the parties’ agreement in regards to ICMSB’s request for the early release of the Deposit, which amounts to RM100,000.00 pending fulfilment of certain Conditions Precedent. The Deposit is refundable in the event of, among others, non-fulfilment of any of the Conditions Precedent or termination of the proposed acquisition as stated in the Term Sheet.

Following the completion of the due diligence review, the parties will proceed to execute a Master Assignment Agreement within 90 days from the date of the Addendum on terms to be mutually agreed by parties.

Save for the above, all other terms and conditions as contained in the Term Sheet remain unchanged.

This announcement is dated 17 October 2023.