On behalf of the Board of Directors of SCIB (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company intends to undertake the following proposals:

1. proposed capitalisation of an aggregate amount of RM11,301,266.80 debt owing to Goh Hardware & Construction Sdn Bhd (“Goh Hardware” or “Creditor”) ("Capitalisation Amount”) by SCIB Properties Sdn Bhd (“SCIB Properties”), a wholly-owned subsidiary of SCIB, via the issuance of 18,496,345 new ordinary shares in SCIB (“Shares” or “SCIB Shares”) (“Capitalisation Shares”) at an issue price of RM0.6110 per Capitalisation Share (“Issue Price”) (“Proposed Capitalisation”); and
2. proposed establishment and implementation of a long term incentive plan (“LTIP”) of up to 15.0% of the Company’s total number of issue Shares (excluding treasury shares, if any) at any point of time during the duration of the LTIP for the eligible directors of SCIB (“Directors”) and employees of SCIB and its non-dormant subsidiary(ies) (“SCIB Group” or the “Group”), who fulfil the eligibility criteria as set out in the by-laws of the LTIP (“Proposed LTIP” or “Scheme”). The Proposed LTIP comprises of a share grant plan (“Proposed SGP”) and a share option plan (“Proposed SOP”).

(Collectively, the “Proposals”)

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

This announcement is dated 30 November 2023.