Reference is made to the news article entitled “The devil could be in the details” appearing on page 9 of The Edge dated 16 January 2023, in particular the following sentence:-

“However, it did not disclose in the bourse filing the conditions that it is required to fulfil”.

The Board of Directors (“Board”) of the Company wishes to provide additional information that the application of ManagePay Resources Sdn. Bhd., a wholly-owned subsidiary of the Company (“MRSB”), for Online Money Lending Licence pursuant to Moneylenders Act 1951 [Act 400] is subject to the audit of MRSB’s online money lending platform by Jawatankuasa Penilaian Pemberian Pinjaman Wang Dalam Talian (JPPPW), Ministry of Urban Wellbeing, Housing And Local Government to ensure its compliance with the requirements of Online Lending Guidelines (Community Credit) [Garis Panduan Pemberian Pinjaman Dalam Talian (Kredit Komuniti)].

This announcement is dated 16 January 2023.