The Board of Directors of the Company is pleased to announce that Kelington Engineering (Shanghai) Co., Ltd (“KESH”), a wholly-owned subsidiary of Kelington had on 12 March 2021 received an award of a contract from The Fourth Construction Co., Ltd. to perform gas hook up works for Ruili Integrated Circuit Co.,Ltd ‘s memory chip wafer fab project at Hefei, the capital and largest city of Anhui Province, People's Republic of China (“the Contract”).

The Contract value is worth approximately RM37.9 million subject to the actual number of tools installed. The Contract is for a period of one year commencing in March 2021 and expected to be completed by May 2022.

The Contract is expected to contribute positively to the earnings and net assets of Kelington for the financial years ending 31 December 2021 and 31 December 2022.

As at 28 February 2021, KESH’s accumulated Y2021 new order was recorded at RMB34 million included other hook up contracts worth RMB32.8 million secured from the largest semiconductor foundry company in China. With this new award of Contract, the latest orderbook of KESH is now at RMB94 million, worth approximately RM59.4 million.

None of the Directors and/or major shareholders of the Company and/or persons connected to them have any interests, direct or indirect in the Contract.

The Company does not foresee any exceptional risk other than normal operational risk associated with the Contract.

This announcement is dated 15 March 2021.