On behalf of the Board of Directors of MQ Tech (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:

(i) proposed acquisition of part of leasehold land in Klebang, Melaka measuring up to 7.155 acres within a larger parcel of land (measuring approximately 10.727 acres) identified as PN 63030, Lot 1, Kawasan Bandar XLV, District of Melaka Tengah, State of Melaka by Star Acres Sdn Bhd, a wholly-owned subsidiary of MQ Tech, from Cash Support Sdn Bhd for a cash consideration of up to RM19,500,000 (“Proposed Acquisition”);

(ii) proposed diversification of the existing business of MQ Tech and its subsidiaries to include property development and property investment (collectively, the “Property Business”) (“Proposed Diversification”); and

(iii) proposed variation of utilisation of proceeds to be raised from the share issuance scheme of up to 30% of the total number of issued shares in MQ Tech (excluding treasury shares, if any) effected on 30 November 2022 (“SIS”) (“Proposed Variation”).

Please refer to the attachment below for further details of the Proposals.

This announcement is dated 26 January 2023.