Reference is made to the Company's announcements dated 8 March 2022, 31 May 2022, 26 August 2022, 5 September 2022, 19 September 2022 and 3 October 2022 in respect of the Memorandum of Agreement between the Company, CIS Pride Silver Rock Fund ("CIS") and Sharkgulf Technologies Group Limited ("Sharkgulf") (collectively referred to as “Announcements”). Unless otherwise stated, the abbreviations and definitions used in this announcement shall have the same meaning as defined in the Announcements. 

The Board of Directors of the Company wishes to announce that the wholly-owned sub-subsidiary of the Company, EP Blueshark Sdn Bhd had on 17 July 2023 entered into an Exclusive Distribution Agreement with Sharkgulf for the exclusive distributor right to sell Sharkgulf’s smart electric motorcycle products in all series with brand name “Blueshark” in Malaysia for a period of one (1) year subject to further renewal to be agreed upon by both parties.

This announcement is dated 17 July 2023.