The Board of Directors (“Board”) of MGRC wishes to inform that the Company is evaluating a potential future participation in the American Depositary Receipt (“ADR”) Program (“Proposed ADR”) to facilitate the trading of the Company’s shares by investors in the United States of America ("the US").

The Proposed ADR is still at a preliminary stage where the Company intends to evaluate its eligibility, and the costs and benefits of participation. The structure of the Proposed ADR is not finalised. More details in relation to the Proposed ADR will be made available in due course, if and when the Board completes the evaluation, and finalises and approves the Proposed ADR.

Typically, ADRs are issued by a US depository bank to represent a foreign company’s shares, and provide an avenue for US-based investors to purchase said shares. The ADRs can provide foreign companies, such as MGRC, with access to a larger, more diversified investor base.

If the Board opts to proceed to participate in the Proposed ADR in the future, the Proposed ADR will be subject to the approvals from all the relevant authorities in Malaysia, the US, and other applicable jurisdictions, as well as approval from the shareholders of the Company.

The Board will disseminate any material information in relation to evaluation of the Proposed ADR in accordance with ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.

The announcement is made on 11 January 2021.