The Board of Directors of ICONIC wishes to announce that Sri Dondang Restaurant Sdn Bhd (“SDSB”) and Fine Pewterware (KL) Sdn Bhd (“FPKL”), both dormant wholly-owned subsidiaries of Sanbumi Capital Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company have on 17 March 2021, each made an application to the Companies Commission of Malaysia (“CCM”) to have their names struck-off pursuant to Section 550 of the Companies Act 2016.

SDSB and FPKL are currently dormant/inactive and have no intention to carry on business or operations in the future.

The striking off of SDSB and FPKL are part of ICONIC’s efforts to streamline operations and optimise overall efficiencies.  It is not expected to have any significant financial and operational impact on ICONIC Group for the financial year ending 31 March 2021 and no material losses are expected to arise from the striking off.

None of the Directors or major shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the striking off.

This announcement is dated 17 March 2021.