Pursuant to Paragraph 8.23(1)(ii) and Practice Note 11 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”), the Board of Directors of Velocity wishes to announce the aggregate amount of financial assistance provided by its wholly-owned subsidiaries, Velocity Capital Sdn. Bhd. ("VCSB") and Velocity Direct Sdn. Bhd. (formerly known as Smart Wisdom Sdn. Bhd.) ("VDSB"), both moneylending companies, pursuant to its ordinary course of business as at 31 December 2024 as set out below:-

Types of Financial Assistance Amount

(RM)

Loans extended to customers in the ordinary course of VCSB's business

292,795,701

Loans extended to customers in the ordinary course of VDSB's business

100,000

The provision of financial assistance as set out above have no material impact on the net assets and earnings per share of Velocity and its subsidiaries for the period ended 31 December 2024.


The details of the Provision of Financial Assistance pursuant to Paragraph 8.23(1)(ii) of the Listing Requirements are set out in the attachments.


This announcement is dated 26 February 2025.