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 ("PROPERTY") BY STAR ACRES SDN BHD ("PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF MQ TECH, FROM CASH SUPPORT SDN BHD ("VENDOR") FOR A CASH CONSIDERATION OF UP TO RM19,500,000 ("PURCHASE CONSIDERATION") ("PROPOSED ACQUISITION")

PROPOSED DIVERSIFICATION OF THE EXISTING BUSINESS OF MQ TECH AND ITS SUBSIDIARIES ("MQ TECH GROUP") TO INCLUDE PROPERTY DEVELOPMENT AND PROPERTY INVESTMENT (COLLECTIVELY, THE "PROPERTY BUSINESS") ("PROPOSED DIVERSIFICATION")

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 ("MQ TECH SHARES") (EXCLUDING TREASURY SHARES, IF ANY) EFFECTED ON 30 NOVEMBER 2022 ("SIS") ("PROPOSED VARIATION")