1. Introduction

The Board of Directors of Uzma (“Uzma” or “the Company”) is pleased to announce that Uzma Engineering Sdn. Bhd.  (“UESB”), a wholly-owned subsidiary of the Company via a letter dated 16 February 2021 has been awarded two licences from Suruhanjaya Tenaga for the Third-Party Access (“TPA”) System, namely Licence to Import Liquified Natural Gas (“LNG”)(“Import License”) into regasification terminal, and Licence to Ship LNG within Malaysia (“Shipping Licence”)(collectively “the Licences”).

2. Salient terms

1. Import Licence allows UESB to carry out activity of an import into regasification terminal, bringing or causing to be brought LNG into or within Malaysia by any means other than transhipment.
2. Shipping Licence grants UESB the right to carry out activity of a shipping licensee including making an arrangement with a regasification, transportation or distribution licensee for gas to be processed or delivered through a regasification terminal, transmission pipeline or distribution pipeline to consumers’ premises.

The Licences were issued by virtue of the Gas Supply Act 1993 [Act 501] and will take effect from 3 February 2021 and shall be valid for a period of ten (10) years.

3. Risk factors

Potential risk factors include operational and execution risks, work schedules, delivery timelines and adverse weather conditions.

4. Financial effects

The Licences are expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2021 and onwards until the expiry of the Licences.

5. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Licences.

6. Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the award of the Licences is interest of the Company.

This announcement is dated 17 February 2021.