REPLY TO QUERY - PROPOSED DISPOSAL OF 1,296,381 ORDINARY SHARES, REPRESENTING 100% EQUITY IN CLOUDDESK TECHNOLOGY PTE. LTD. ("CLOUDDESK TECHNOLOGY") ("PROPOSED DISPOSAL")

We refer to your Company’s announcement dated 2 April 2025 in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. Net profits and net assets of Clouddesk Technology, based on its latest audited financial statement.

2. The basis of arriving at the disposal consideration, other than on a “willing buyer willing seller” basis.

3. The justification for the disposal consideration. 

4. The financial effects and business impact of the Proposed Disposal.

5. The expected gains or losses to the Group arising from the Proposed Disposal.

6. The intended application of the sale proceeds and the breakdown, including the timeframe for the full utilisation of proceeds.

7. Details of the Purchaser.

8. Particulars of all liabilities to be assumed by the Purchaser arising from the Proposed Disposal.

9. A statement by the board of directors, excluding interested directors, stating whether the Proposed Disposal is in the best interest of Cloudaron, fair, reasonable, on normal commercial terms and not detrimental to the interest of the minority shareholders, and its recommendation including the basis of such recommendation.

10. Whether the Proposed Disposal is subject to the approval of the relevant government authorities, the conditions imposed and status of compliance.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

Listing
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)