(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Company’s announcement dated 28 June 2021 in relation to the EPCA.)

We refer to the earlier announcement in relation to the EPCA dated 28 June 2021 (“Announcement”).

The Board of Directors of FINTEC wishes to announce the following additional information:

1. The sources of fund of the RM46,198,007.38 Contract Sum to be paid by Fintec Glove to Pasukhas, and the breakdown thereof.

The Contract Sum will be funded by way of a mixture of funds (mainly derived from the proceeds raised from the issuance of rights issue with warrants which was completed on 28 December 2020 and has raised approximately RM114 million) and bank borrowings to be secured by Fintec Glove or the Company, of which the exact breakdown is yet to be determined at this juncture. The exact breakdown will be determined later and will depend on amongst others, the Company and its subsidiaries (“Group”)’s cash reserves, gearing level and future funding requirements for the Proposed Development.

2. The relevant authorities’ approval required to be obtained for the Proposed Development and estimated time frame for submission of such applications.

The relevant authorities’ approval required to be obtained for the Proposed Development and estimated time frame for submission of its applications are set out below:

3. The expected date of commencement of operations of the glove manufacturing factory (“Factory”) for the 1st production batch of nitrile gloves.

The expected date of commencement of operations of the Factory for 1st production batch of nitrile gloves is in the first quarter of year 2022.

4. The production capacity and production output of the Factory.

The annual production capacity is 3.3 billion upon commencement of the operation for the entire 14-dipping lines. The production output of the Factory is unable to be determined at this juncture as Fintec Glove will commence the operation of the dipping lines in stages due to the fluctuating cost of the machineries.

5. The relevant regulatory approvals, permits and/or licenses required to be obtained by Fintec Glove in connection with the manufacturing of the medical-grade nitrile gloves. To state whether Fintec Glove has obtained any of these regulatory approvals, permits and/or licences, including the dates obtained. If not obtained, the relevant dates of application.

The relevant regulatory approvals, permits and/or licences required to be obtained by Fintec Glove in connection with the manufacturing of the medical-grade nitrile gloves are set out below:

The announcement is dated 7 July 2021.