Unless otherwise defined, the definitions set out in the circular in relation to the Proposals dated 6 February 2024 shall apply herein.

The Board wishes to announce that the Company has on 31 December 2024 issued a written termination notice to Perdanis to terminate the SSA for the acquisition of Redina, in accordance to clause 5.5(b) of the SSA ("Termination").

The rationale for the Termination was based on Redina’s unaudited loss after tax recorded for the 9 months period ended 30 September 2024 and Redina’s confirmation that it is unlikely to attain the guaranteed PAT for the first year of the Guaranteed Period. Pursuant to clause 5.5(b) of the SSA, the Company is entitled to terminate the acquisition of Tranche 2 Sale Shares, and Perdanis shall repurchase the Tranche 1 Sale Shares from the Company at the Tranche 1 Purchase Consideration within a period of 24 months from the date of the Company's written termination notice.

The Termination will not have any material effect on the earnings of the Company and net assets of the Group for the financial year ending 31 December 2024.

The Board is of the view that the Termination is in the best interest of the Company.

This announcement is dated 31 December 2024.