1. Introduction

The Board of Directors of the Company is pleased to announce that Aemulus Corporation Sdn. Bhd. (“ACSB”), a wholly-owned subsidiary of the Company had secured new orders worth approximately RM37.9 million on 29 July 2022.

The new secured orders are from existing customer based in Malaysia from the automotive industry for the test systems for automotive devices.

The revenue from the said new orders shall be recognised progressively upon delivery of the systems.

2. Secured orders period

(i) The secured orders are expected to be fulfilled from August 2022 until June 2026, and

(ii) The total estimated value of the secured orders is approximately RM37.9 million for the abovementioned duration.

3. Financial effects

The secured orders are expected to contribute positively to earnings of the Company for the financial year ending 30 September 2022 and the subsequent financial years.

The secured orders are not expected to have any material effect on the net assets per share of the Company for the financial year ending 30 September 2022. The secured orders will not have any effect on the share capital and shareholding structure of Aemulus.

4. Risks

The potential risk factors affecting the secured orders include execution risks such as availability of skilled manpower and materials, changes in prices of materials, disruption of supply chain, reduction in demand, changes in political, economic and regulatory conditions.

5. Directors’ and Major Shareholders’ Interest

None of the Directors, major shareholders and person connected to them has any interest, direct or indirect, in the above secured orders.

This announcement is dated 29 July 2022.