NEXGRAM HOLDINGS BERHAD ("NEXGRAM" OR "THE COMPANY") 
MASTER STRATEGIC JOINT VENTURE AGREEMENT BETWEEN VACCINES LAB SDN BHD ("VACCINESLAB"), A WHOLLY-OWNED SUBSIDIARY OF NEXGRAM HOLDINGS BERHAD, WITH RAFARMA PHARMACEUTICALS INC. ("RAFARMA")

We refer to your Company’s announcement dated 10 December 2020, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. The proposed principal activities of the joint venture company (“JVC”);
2. The capital and investment outlay by VaccinesLab in the JVC, its sources of funding and the breakdown;
3. The relevant regulatory approvals required to be obtained by the JVC before it can commence  its operations;
4. The equity interest to be subscribed by VaccineLabs in the JVC;
5. Please provide further information on RAFARMA including the shareholders, board of directors, senior management, and the listing status (if RAFARMA is listed);
6. Pertaining to the Parties’ desire to develop and conduct the Clinical Trial and invest in the Vaccine Plant, please clarify how does RAFARMA intend to strive for access to the Covid-19 vaccines for use / test / distribution, i.e. whether RAFARMA intends to source for the said vaccine or intends to develop the said vaccine. To also clarify the current stage of acquisition / development of the Covid-19 vaccines;
7. Please clarify what are the expected or agreed milestones with regard to Clinical Trial and Vaccine Plant;
8. Please clarify the source of funding and/or arrangement through which RAFARMA intends to secure the USD 1 billion investment;
9. Paragraph 4.3 of the announcement states that VaccineLabs will provide government joint venture, partnership, regulation, licenses, and initiatives for the project. Please clarify if NEXGRAM and/or VaccineLabs has secured any agreements with any government with regard to the joint venture with RAFARMA.  If yes, please provide details of these agreements and the government parties involved; and
10. Please clarify on the agreed structure of JVC in terms of the management and board of directors’ structure.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

LISTING

REGULATION

Cc : Market Surveillance Dept., Securities Commission (via fax)