The Board of Directors of the Company wishes to announce that the Company had entered into a Partnership Agreement (“the Agreement”) with East Logistic-Link Co., Ltd, a wholly-owned agency of General Administration of Customs of the People’s Republic of China (“GACC”) for the Company to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on the Zetrix blockchain platform. This will enable all relevant data to be available accurately in near real-time, hence, increasing the efficiency of tariff computation and customs clearance, especially for trade within the Regional Comprehensive Economic Partnership (“RCEP”) member nations. The scope of the Agreement covers international exports going into China and exporters may now register to use the service known as Ztrade at Zetrix.com.

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

The Board of Directors of the Company, having reviewed and considered the terms and conditions of the Agreement, is of the opinion that the Agreement is in the best interest of the Company and the terms and conditions of the Agreement are fair, reasonable and on terms that are not detrimental to the interest of the minority shareholders of the Company.

The Board of Directors is of the view that barring any unforeseen circumstances, the prospect of the Agreement is expected to be positive and is expected to contribute positively to the earnings per shares and net assets per share of the Group for the financial year ending 31 December 2023 and onwards.

Please refer to the attachment in relation to the press release for further details.

This announcement is dated 30 March 2023.