Reference is made to the Company's announcement on 27th March 2026.
The Board of Directors is pleased to announce that the Company, its wholly owned subsidiary, Insights Analytics Technologies Sdn. Bhd. (formerly known as Exxor Technologies Sdn. Bhd.) ("IATSB"), its directors Bong Joon Fook and Wee Khiam Hui have reached an amicable settlement with the Plaintiff with regard to the Plaintiff's Claims through a Consent Judgment ("CJ") entered and recorded at the High Court at Kuching on 1st July 2026.
The salient terms of the CJ are as follows: -
1. That on a strictly without prejudice and without admission to liability basis, IATSB shall pay the Plaintiff the agreed sum of Ringgit Malaysia Four Million Two Hundred And Forty Thousand Only (RM4,240,000.00) as full and final settlement of the Plaintiff's Claims against the 1st - 4th Defendants;
2. The 3 source codes namely: -
(i) Integrated Construction Site Resources Information Management System;
(ii) Integrated Smart Hotel Operations, Management and Reservation System Using IOT; and
(iii) Centralised Smart Transport Management System
shall be deemed fully paid and thereon fully vested in IATSB and IATSB shall have full rights to utilise, the aforementioned 3 source codes in whatsoever manner IATSB deems fit.
3. There shall be no order as to cost with the parties bearing their own cost of the action.
As of this announcement, the CJ has been sealed and the Company has fully paid the Settlement Sum to the Plaintiff. As such, the Plaintiff's Claims are now fully and finally resolved, with no outstanding matters remaining between the parties in respect of those Claims.
This announcement is dated 3rd July 2026.