Unless otherwise defined, the definitions used in this announcement shall have the same meaning as those defined in the Company’s announcement dated 4 November 2020 in relation to the Proposed Private Placement.

Reference is made to the announcements dated 4 November 2020, 17 November 2020, 24 November 2020, 25 November 2020, 16 December 2020, 17 December 2020 and 22 December 2020 in relation to the Proposed Private Placement.

On behalf of the Board, MIDF Investment is pleased to announce that Bursa Securities has, via its letter dated 13 January 2021, resolved to approve the listing and quotation of up to 7,246,950 Placement Shares to be issued pursuant to the Second 10% Proposed Private Placement subject to the following conditions:

1. Ipmuda and MIDF Investment must fully comply with the relevant provisions under the Main Market Listing Requirements (“Main LR”) pertaining to the implementation of the Proposed Private Placement;

2. Ipmuda and MIDF Investment to inform Bursa Securities upon the completion of the Proposed Private Placement;

3. Ipmuda to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed; and

4. Ipmuda to furnish Bursa Securities with a certified true copy of the resolution passed pursuant to the Sections 75 and 76 of the Companies Act, 2016, in the event the current authority has expired.

This announcement is dated 13 January 2021.