On behalf of the Board of Directors of Matang ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake the following proposals:-

i. a private placement of 181,000,000 new ordinary shares in Matang ("Matang Share(s)" or "Share(s)") ("Placement Share(s) I"), representing approximately 10% of the total issued shares of Matang, to Huaren Holdings Sdn Bhd ("Huaren" or the "Investor"), a major shareholder of the Company, at an issue price of RM0.1108 per Placement Share I ("Issue Price I") ("Proposed Private Placement I"); and

ii. a private placement of up to 20% of the total issued shares of Matang (excluding treasury shares, if any) to third-party investor(s) to be identified later at an issue price to be determined later in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016 ("Act") ("Proposed Private Placement II");

(collectively referred to as the "Proposals").

For avoidance of doubt, at this juncture, the Company has yet to identify any third-party investor(s) for the Proposed Private Placement II.

Further details on the Proposals are set out in the attachment enclosed.

This announcement is dated 6 April 2021.