We refer to the article published by The Edge on 25 January 2021 entitled: “DNeX close to bagging cable laying, maintenance and repair job in Indonesia” as attached and the announcement dated 25 January 2021 in relation to a consortium agreement entered into between PT DNeX Telco Indonesia, a 95% owned subsidiary of PT Dagang Samudera Hutama (“PT DSH”), with PT Samudera Mbiantu Sesami and PT Infrastruktur Telekomunikasi Indonesia (“Consortium Agreement”). Dagang Net Technologies Sdn. Bhd., a wholly-owned subsidiary of DNeX is 49% registered owner of PT DSH.

The Board of Directors (“Board”) of DNeX wishes to clarify that as of the date of this announcement, saved for the signing of the Consortium Agreement, the Company has not received any letter of award nor has it entered into any other agreement with an Indonesian government-linked company (“GLC”) for cable laying, maintenance and repair job in Indonesia which has been reported in the said article.

The Board is cognisant of the need for proper dissemination of information to the public and would release announcement on Bursa Securities on any material issue or development arising from the above event which shall include the length of the agreement, its contract value and any other material information on a timely basis in accordance with the Listing Requirements.

This announcement is dated 26 January 2021.