1.INTRODUCTION

The Board of Directors of SEB (the “Board”) is pleased to announce that the Company had on 19 August 2022 received the purchase order from Lipico Technologies Pte Ltd for a total order sum of up to approximately RM11.5 Million.

2.VALUE AND DURATION OF THE ORDER

The total value of the Order and the duration thereof are summarised as follows:

The Order shall commence as per the agreed date as stated in the purchase order duly accepted by the Company.

3.RISK FACTORS

The risk factors affecting the Order comprise mainly the normal operational and execution risks which the Group would take appropriate measures to address them.

4.FINANCIAL EFFECTS

The Order will not have any effect on the total issued share capital of the Company, barring unforeseen circumstances, it is expected to contribute positively towards the earnings and net assets per share of the Company for the duration of the Order. 

The Order will be funded via internally generated funds.

5.DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and Major Shareholders of the Company and persons connected to them has any interest, direct or indirect, in the Order.

6.STATEMENT BY DIRECTORS

The Board, having taken into consideration all aspects of the Order, is of the opinion that the Order is in the best interest of the Company and its subsidiaries.

The announcement is dated 19 August 2022.