1. INTRODUCTION

The Board of Directors of Industronics Berhad wishes to announce an update in relation to matters identified concerning the historical operations and affairs of ECGO International Limited ("ECGO"), a company within the Group, and the actions being taken by the Company to protect the interests of the Group and its stakeholders.

2. BACKGROUND

Following the present management's review of historical records and documentation, the Company identified matters requiring further examination in relation to ECGO, including historical transactions, the movement and utilisation of funds, trade receivables, inventory records, supporting commercial documentation and corporate governance matters.

Based on records reviewed to date, ECGO recorded substantial trade receivables concentrated among a limited number of counterparties, with total identified exposure exceeding approximately HKD96 million. The underlying transactions, recoverability of the receivables and any appropriate impairment or recovery action remain subject to verification and further review.

3. ACTIONS TAKEN BY THE COMPANY

The Company has lodged police reports with the Royal Malaysia Police and requested that the relevant matters be investigated by the Commercial Crime Investigation Department. The Company will continue to provide relevant records and supporting documents to the authorities as required.

In parallel, the Company is to conduct a comprehensive forensic review of the relevant historical transactions and records. The review is intended to include transaction tracing, review of fund flows and banking records, verification of receivables and supporting documents, assessment of recoverability, and review of relevant governance and control matters. The purpose of the review is to establish the facts and to assist the Board in determining the appropriate recovery, legal, regulatory and governance actions, where applicable.

The Company is also taking steps to preserve and secure relevant records, systems, accounts and confidential information while the review and investigations are ongoing.

4. MANAGEMENT ACTION IN RELATION TO ECGO

In view of the matters identified and pending completion of the ongoing investigation and the necessary corporate and legal procedures, Ms. Liu Wing Yee Amy has been directed to cease all management and operational involvement within the Group, and all access, authority and rights granted to her in relation to Group companies, assets, systems, records, accounts and confidential information have been revoked with immediate effect.

The Board has also resolved to take the necessary steps to remove Ms. Liu Wing Yee Amy from all positions, appointments, authorities, representations and involvement within the Industronics Berhad Group, subject to completion of all applicable corporate and legal procedures.

5. STATUS OF REVIEW AND FINANCIAL IMPACT

The review and investigations are ongoing. At this stage, the Company is not in a position to determine with certainty the final financial impact, the amount ultimately recoverable, or whether any further impairment, recovery action or other provision may be required. The Company will assess the appropriate accounting treatment based on the outcome of the review and in accordance with the applicable financial reporting requirements.

For the avoidance of doubt, the matters under review are investigative in nature. No final conclusion has been reached at this stage that any specific individual has committed any criminal offence or other wrongdoing.

6. FURTHER ANNOUNCEMENTS

The Company will make further announcements on any material developments, including material findings from the review, recovery or legal actions, and relevant developments arising from investigations by the authorities, in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

This announcement is dated 12 August 2026.