1. INTRODUCTION

The Board of Directors of Betamek is pleased to announce that BESB had on 13 February 2023 received a Letter of Appointment dated 25 January 2023 issued by PERODUA for a contract to supply various electronic parts for PERODUA new car model.

(hereinafter referred as the “Projects”).

2. SUMMARY OF THE PROJECTS

The supply of these parts has commenced in the fourth quarter of the financial year ending 31 March 2023 for a duration of six (6) years (“Projects Period”). The Projects are expected to generate total revenue of approximately RM123.5 million for the Company and its subsidiary (the “Group”) over the (6) years.

3. FINANCIAL EFFECTS OF THE PROJECTS

The Projects will not have any effect on the share capital and shareholding structure of the Company and there will not be any material effect on the net assets and gearing of Betamek for the financial year ending 31 March 2023. The Projects are expected to contribute positively to the revenue and earnings of the Group for the financial year ending 31 March 2023 and throughout the Projects Period.

4. RISK FACTORS

The risks associated with the Projects include, but are not limited to, execution risks such as the availability of skilled manpower and equipment, changes in political, economic and regulatory conditions. The Group has, throughout the years, established its track record and expertise to undertake these Projects. Notwithstanding this, the Group shall ensure strict compliance with safety and operational procedures in the execution of the Projects requirements.

5. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interests, direct or indirect, in the Projects.

6. STATEMENT BY DIRECTOR

Having considered all aspects of the Projects, the Board of Directors of the Company is of the view that the Projects is in the best interest of the Group.

This announcement is dated 14 February 2023.