Reference is made to the announcements dated 26 March 2019 and 25 June 2019 in relation to the Memorandum of Understanding (“MOU”) between Universal Alloy Corporation Europe (“UACE”) and JHM Consolidation Berhad (“Announcements”).

Unless otherwise stated, all definitions used throughout this announcement shall have the same meaning as defined in the earlier Announcements.

The Board of Directors of the Company wishes to inform that JHM has successfully gone through and passed the stringent Business Value Assessment conducted by UACE in July 2019.  In addition to that, JHM has received the approval on the qualification units that JHM has submitted to UACE in August 2019. Consequently, UACE has issued the purchase orders to the Company for mass production.

This announcement is dated 25 September 2019.