1. INTRODUCTION

The Board of Directors of the Company (“Board”) wishes to announce that BIGG will be entering into a non-related party transaction of a revenue nature in the ordinary course of business by the purchase of one (1) unit ASU for a cash consideration of RM22,900,000 (Ringgit Malaysia Twenty-Two Million and Nine Hundred Thousand) only (“Purchase Consideration”) from Pure Gas Engineering Sdn. Bhd. [202401001634 (1547485-A)] (“PGE”).

2. DETAILS OF THE PURCHASE

2.1  Information of BIGG

BIGG is a private limited company incorporated in Malaysia under the Companies Act, 1965 on 16 September 1980. The issued share capital of BIGG is RM1,050,002 comprising 850,002 ordinary shares and the principal activity of BIGG is manufacturing, distribution and marketing of liquefied or compressed inorganic industrial or medical gases, provision of services and maintenance and wholesaling or trading in related products and pharmaceutical and medical goods; and property development.

2.2  Information of PGE

PGE is a private limited company incorporated in Malaysia under the Companies Act 2016 on 11 January 2024. The issued share capital of PGE is RM750,000 comprising 750,000 ordinary shares. PGE is a provider of total gas engineering solutions, specialising in ultra-high purity and clean energy systems for the electronic and diverse industries.

2.3 Information of the Purchase   

PGE will undertake the design, supply, delivery, installation, testing, commissioning and training for the ASU with a production capacity of 60 tonnes per day.

BIGG has an existing ASU in Kuching. The Purchase will increase the existing production capacity, improve operational efficiency and is a strategic integration with industries within the vicinity of Bintulu and Samalaju Industrial Park.

The Purchase Consideration will be satisfied by internal generated funds and external bank borrowings

3.  FINANCIAL EFFECTS OF THE PURCHASE

3.1  Earnings and net assets

The Purchase is not expected to have a significant effect on the earnings and net assets per share for the financial year ending 30 June 2026. However, it is expected to contribute positively to the future earnings of the Company and BIGG.

3.2  Gearing of the Company

The Purchase is not expected to have any material impact on the gearing of the Company for the financial year ending 30 June 2026.

4.   INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND PERSONS CONNECTED

None of the Directors and major shareholders of the Company and persons connected with them has any interest, direct or indirect, in the Purchase.

5.   DIRECTORS’ STATEMENT / RECOMMENDATION

The Board, after having considered all aspects of the Purchase, is of the opinion that the Purchase is in the best interest of the Company.

6.  ESTIMATED TIME FRAME FOR COMPLETION

Barring any unforeseen circumstances and subject to all relevant approvals being obtained, the Purchase is expected to be completed by December 2027.

This announcement is dated 30 July 2025.