The board of directors of HSCB wishes to announce that the Company intends to seek its shareholders' approval on the Proposals at the forthcoming 49th annual general meeting ("2025 AGM") to be convened:-

1. Proposed RRPTs Mandate

During the annual general meeting ("AGM") held on 29 May 2024, the Company obtained a general mandate from its shareholders pursuant to Paragraph 10.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements") which authorised HSCB and its subsidiaries ("HSCB Group") to enter into recurrent related party transactions of a revenue or trading nature which are necessary for the day-to-day operations of HSCB Group ("RRPT"). The said mandate shall lapse upon conclusion of the forthcoming 2025 AGM of the Company unless it is renewed.

The Company will be seeking a renewal of and new mandate from its shareholders at the 2025 AGM for HSCB Group to enter into RRPT during the mandate period commencing from the date of the 2025 AGM and expiring upon the conclusion of the next AGM.

2. Proposed Renewal of Share Buy-Back Authority

During the AGM held on 29 May 2024, the Company obtained authorisation from its shareholders for the Company to purchase and/or hold its own shares up to a maximum of 10% of the issued share capital of the Company. The said authorisation shall lapse upon conclusion of the forthcoming 2025 AGM of the Company unless it is renewed.

The Company will be seeking a renewal of shareholders' authorisation at the 2025 AGM to enable the Company to purchase and/or hold its own shares up to a maximum of 10% of the Company's issued share capital during the mandate period commencing from the date of the 2025 AGM and expiring upon conclusion of the next AGM.

Circular to Shareholders and Share Buy-back Statement

Both the Circular to Shareholders and Share Buy-back Statement setting out the details of the Proposals will be issued to the shareholders of the Company in due course.

cc: Securities Commission