Reference is made to the articles on various news media in regard to no Approved Permit (“AP”) was given to the Company for sand export, reported from 9 to 10 May 2020.

The Board of Directors of Ageson wishes to clarify that neither Ageson Berhad or any entities within the Company and its subsidiaries has the AP for sand export. Further, the Company is not privy to such information on whether any applications are required and/or submitted to Department of Mineral and Geoscience Malaysia for any kind of collaborations with the existing AP holders that export sand.

Pursuant to the Company’s announcements made on 4 May 2020 and 8 May 2020 in relation to the award of purchase order from Guangzhou Kaishengda Industrial Co., Ltd to Esa Pile Sdn Bhd (“Esa Pile”), a wholly-owned subsidiary of the Company, Esa Pile will be leveraging on its business partners in sand business, namely, World Tractor Parts (HK) Limited (Sales and marketing consultant in sand business), Zhillion Sand Sdn Bhd (Sand Operation) and Polo Specialist Trading Sdn Bhd (“PST”) (AP holder). However, Esa Pile will not limit itself to rely solely on PST as the AP holder.

Notwithstanding Esa Pile partnership with the abovementioned several business partners in sand business, the Company is currently in the midst of discussion and negotiation with several potential business partners in Malaysia to undertake the sand supply and export to overseas. The Company has extended its exploration for potential collaboration in sand business beyond Malaysia and is currently in talks on potential collaboration with the potential business partners within South East Asia region. As at to-date, the discussion and negotiation with these potential business partners are at a preliminary stage.

The Company takes cognisant of the laws, procedure and requirements needed for sand export to overseas and will ensure the Company’s sand export business, at all times, is in compliance with relevant laws and regulations.

This announcement is dated 12 May 2020.