Reference is made to the Company's announcement dated 10 July 2023 in respect of the Conditional Approval on Manufacturing License for Manufacture and Assembly of EEV, Electric Passenger Vehicles and Electric Commercial Vehicles.

The Board of Directors of the Company wishes to announce that Ministry of Investment, Trade and Industry Malaysia has granted Peps-JV (Melaka) Sdn Bhd (“PJVM”), a wholly owned subsidiary of the Company, Manufacturing License dated 10 July 2023 pursuant to Industrial Co-ordination Act 1975 to undertake the activity of Manufacturing and Assembly of EEV, Electric Passenger Vehicles and Electric Commercial Vehicles.  

The Manufacturing License is subject to, amongst others, the condition that the manufacturing and assembly activities shall take place at PT 2231, Jalan Hicom Pegoh 7, Kawasan Industri Pegoh, 78000 Alor Gajah, Melaka within 12 months from the effective date of the Manufacturing License.

PJVM plans to establish a Manufacturing Plant to manufacture and assemble EEV, Electric Passenger Vehicles and Electric Commercial Vehicles and other related products in Malaysia. This expansion will open up new business opportunities for revenue and business growth while aligning the business with sustainability initiatives.

The Manufacturing License will not have any material effect on the earnings per share and net assets per share of the Company and its subsidiaries for the financial year ending 31 December 2023. The Manufacturing License will not have any effect on the share capital, gearing and substantial shareholders’ shareholdings of the Company.

None of the Directors and/ or major shareholders of EPMB and/ or persons connected with them have any interest, direct or indirect, in the Manufacturing License.

This announcement is dated 4 September 2023.