Reference is made to the announcement dated 26 March 2019 in relation to the Memorandum of Understanding (“MOU”) between Universal Alloy Corporation Europe (“UACE”) and JHM Consolidation Berhad (“Announcement”).

Unless otherwise stated, all definitions used throughout this announcement shall have the same meaning as defined in the earlier Announcement.

The Board of Directors of the Company wishes to inform that UACE has already provided Request For Quotation (“RFQ”) packages to the Company since the signing of the MOU on 26 March 2019. The Company has been awarded some parts for machining to date and these parts are with a product life time of at least 5 years.

Since the award a week ago, the Company has started working on the machine programmes as well as the associated jigs and fixtures and will start machining the parts upon the Company receiving the raw materials from UACE.

This announcement is dated 25 June 2019.