INSIGHTS ANALYTICS BERHAD ("IAB" OR "THE COMPANY")

LETTER OF AWARD

SUB-CONTRACTOR TO DESIGN, BUILD AND OPERATE – PROPOSED PERFORMANCE BASED CONTRACT FOR ACUTE WATER SUPPLY SHORTAGE AT NIBONG TADA AREAS, SIBU DIVISION, SARAWAK, MALAYSIA.

1. Introduction

The Board of Directors of INSIGHTS ANALYTICS BERHAD (“IAB”) is pleased to announce that its wholly owned subsidiary, INSIGHTS ANALYTICS TECHNOLOGIES SDN. BHD. (formerly known as EXXOR TECHNOLOGIES SDN. BHD.) had on 21 November 2025, accepted a Letter of Award from W Realty Holding Sdn. Bhd. (“Main Contractor”) to act as Sub-Contractor to design, build and operate Performance Based Contract for acute water supply shortage at Nibong Tada Areas, Sibu Division, Sarawak, Malaysia (“the Project”).

2. Details of the Letter of Award

(a) The total contract sum for the Project is RM11.461 mllion.

(b) The date of commencement of the Project is 24 November 2025 and the date of completion is 7 May 2026 with a 60 months’ operation and maintenance period thereafter.

(c) Performance Bond and Insurance will be arranged by the Main Contractor.

3. Details of the Parties

(a) Details of Insights Analytics Technologies Sdn. Bhd. (formerly known as Exxor Technologies Sdn. Bhd.)

Insights Analytics Technologies Sdn. Bhd. (formerly known as Exxor Technologies Sdn. Bhd.) was incorporated in Malaysia on 22 May 2003 as a private limited company having its place of business at Parcel Lot No. D272, D273 & D274, 1st Floor, Block D, ICOM Square, Jalan Pending, 93450 Kuching, Sarawak. The principal activities involve in Provision of Water Technology Solutions and Intelligent Asset Management Solutions. 

(b) Details of W Realty Holding Sdn. Bhd.

W Realty Holding Sdn. Bhd.was incorporated in Malaysia on 16 April 2015 as a private limited company having its place of business at 15, 1st floor, Jalan Foh Yew 4B, 96000 Sibu, Sarawak. The principal activities involve in Investment in Real Properties, Contract Works and General Trading. 

4. Risk Factors

The Project is subject to operational, construction and regulatory risks, all of which are manageable in the ordinary course of business.  The Board of Directors does not foresee any exceptional risk factors which may arise from the Project. 

5. Financial Effects

The acceptance of Letter of Award of the Project is expected to contribute positively to the Group’s earnings over the contract duration.

6. Approvals Required

The acceptance of the Letter of Award for the Project is not subject to the approval from the Company’s shareholders and/or any regulatory authorities.

7. Directors’ And Major Shareholders’ and/or Persons Connected with Them

None of the Directors, major shareholders of IAB, or persons connected to them have any interest, direct or indirect, in the Project.

8. Statement by the Board of Directors

The Board of Directors, having considered all relevant aspects of the Project, is of the opinion that the Project is in the best interest of IAB.

This announcement is dated 21 November 2025.

M & A Securities Sdn Bhd (“M&A”), being the Sponsor, was responsible for the admission of Insights Analytics Berhad to the ACE Market of Bursa Malaysia Securities Berhad on 27 October 2025. M&A assumes no responsibility for the contents of this announcement.