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Reference is made to the utilisation of proceeds raised from the Initial Public Offering (“IPO”) as disclosed in the Company’s Prospectus dated 15 July 2020 that was issued in conjunction with the listing of and quotation for its entire enlarged issued capital on the ACE Market of Bursa Malaysia Securities Berhad on 18 August 2020 (“Listing”). The Company had raised total gross proceeds of RM21 million from its IPO (“IPO Proceeds”). The Board of Directors of the Company wishes to announce that it has deliberated and resolved to extend the timeframe for the utilisation of the remaining unutilised IPO Proceeds allocated for capital expenditure for an additional twelve (12) months of up to twenty-four (24) months from the date of Listing.

Kindly refer to the attachment for further details.