SECTION 3: OUR GOVERNANCE 126 ADDITIONAL COMPLIANCE INFORMATION 1. UTILISATION OF PROCEEDS RAISED FROM THE PUBLIC ISSUE The status of the utilization of proceeds from the Initial Public Offering as at 31 December 2024 is as follows: Purpose (A) (B) (C) = (A) + (B) (D) (C) - (D) Intended Timeframe for Utilisation Original Proposed Utilisation RM’000 Reallocation RM’000(a) Reallocated Utilisation RM’000 Actual Utilisation RM’000 Balance Unutilised RM’000 Expansion in Malaysia and Singapore 62,755 (19,308) 43,447 20,793 22,654 Within 36 months Expansion into new geographical markets 53,550 19,308 72,858 34,219 38,639 Within 36 months Upgrade of digital technology facilities 3,000 - 3,000 938 2,062 Within 36 months Working capital requirements 3,259 - 3,259 3,259 - Within 24 months Estimated share listing and share issuance expenses 7,036 - 7,036 7,036 - Within 1 month 129,600 - 129,600 66,245 63,355 The utilisation of proceeds as disclosed above should be read in conjunction with the IPO Prospectus dated 28 June 2023. Note: (a) The Group undertook a Proposed Variation for the utilisation of proceeds raised from initial public offering as disclosed in the announcement dated 28 August 2024, with total amount of RM22.31 million. • The amount of RM19.31 million has been reallocated from Expansion in Malaysia and Singapore to expansion into new geographical markets to fast track the expansion of its business operations in Indonesia. • The Group has also reallocated RM3.00 million from the expansion of new outlets in Malaysia and Singapore to the refurbishment of existing retail outlets, warehouse and head office in Malaysia.
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