The Board of Directors of CIT (“Board”) wishes to announce that the Board intends and has resolved to extend the timeframe for the utilisation of proceeds raised from its initial public offering on the ACE Market of Bursa Malaysia Securities Berhad being completed on 20 January 2022 (“Date of Listing”)(“IPO”) and its private placement exercise being completed on 6 September 2023 (“Date of Completion”)(“Private Placement”). The Company has raised gross proceeds of RM32.98 million (“IPO Proceeds”) and RM40.56 million from its IPO and Private Placement (“Private Placement Proceeds”) respectively.

Please refer to the attachment for the details of the anouncement.

This announcement is dated 27 January 2025.