On behalf of the Board of Directors of SIB ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake the following:-

i. a private placement of up to 20% of the total number of issued shares of SIB ("SIB Share(s)" or "Share(s)") to third party investor(s) to be identified later at an issue price to be determined later ("Proposed Private Placement"); and

ii. an acquisition of 1,160,000 ordinary shares in Offspring Inc Sdn Bhd ("Offspring") ("Sale Share(s)"), representing an additional 29% equity interest in Offspring, from Sedania Corporation Sdn Bhd ("SCSB" or the "Vendor") for a purchase consideration of RM17.40 million ("Purchase Consideration"), to be satisfied entirely via cash ("Proposed Acquisition"). For information purposes, Offspring is currently a 51%-owned subsidiary of SIB.

The Proposed Acquisition is deemed a related party transaction under Rule 10.08 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") ("Listing Requirements") in view of the interests of directors and major shareholders of SIB as set out in the enclosed announcement.

Accordingly, cfSolutions Sdn Bhd ("cfSolutions") has been appointed as the independent adviser to advise the non-interested shareholders of the Company in relation to the Proposed Acquisition.

Further details of the Proposals are set out in the attachment enclosed.

This announcement is dated 26 May 2025.