The Board of Directors of Tri-Mode (“Board”) is pleased to announce that Tri-Mode had officially obtained the Freight Forwarding Agent License from the Royal Malaysian Customs Department (“RMCD”) on 1 September 2022 via International Integrated Logistics Services (“IILS”) status, approved by the Malaysian Investment Development Authority (“MIDA”) on 2021.

The IILS status enables Tri-Mode to have 100% equity ownership in Freight Forwarding Agent License issued by RMCD which enables Tri-Mode to complete the integrated and seamless logistics services along the value chain as a single entity on a regional and global scale. Hence, Tri-Mode will be able to provide integrated logistics services under a single entity to its valued customers more efficiently with cost and time savings.

Furthermore, Tri-Mode’s associate company, Atama Logistics (M) Sdn Bhd obtained its Authorized Economic Operator (“AEO”) certification by RMCD with effective date from 10 August 2022. With this AEO certification, hence able to represent AEO status international agencies, multinational corporation (“MNC”), public listed company and its selected customers on priority fast customs clearance, faster release shipments, lower rate of physical inspection of cargo and enhanced security of transaction and improve risk mitigation.

The AEO is a concept introduced by the World Customs Organization (“WCO”) SAFE Framework of Standard referring to operators involved in the movement of goods along the international trade supply chain who have achieved the required security standards and are accredited by the member country. The AEO Scheme developed by RMCD is based on the similar concept. The AEO concept encourages electronic transactions for better security management in the supply chain management, particularly speed and secure movement of goods, minimal documentation, minimal human intervention and predictability of customs processes.

The Board is of the opinion that the above-mentioned license and certification are expected to add value to Tri-Mode’s services and will contribute positively to the future earnings of the group.

Please find attached Tri-Mode's press release entitled "Tri-Mode obtained Freight Forwarding License and Its Associate obtained AEO Certification" for further information.

This announcement is dated 23 September 2022.