163 ANNUAL REPORT 2025 MST GOLF GROUP BERHAD SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR Subscription of additional shares in subsidiaries On 15 April 2025, the Company has subscribed an additional 30,600 new ordinary shares of IDR1.0 million each in PT MST Golf Indonesia with a cash subscription of IDR30.6 billion (equivalent to approximately of RM8,996,000). The Company will maintain its controlling stake of 51% in MGI. Shareholder agreement for golf business in Thailand The Company, had on 23 October 2025, entered into a Shareholders Agreement with Mr. Ng Yap Sio and Mr. Low Kok Poh in relation to the incorporation of a subsidiary company namely MST Golf (Thailand) Company Limited (“MST Thailand”). The Company had subscribed 999,998 ordinary shares of THB100 each in MST Thailand representing 99.99% of equity interest in MST Thailand for a cash consideration of THB99,999,800 (equivalent to approximately RM12.91 million). The transaction will complete in the next financial year. AUDITORS The Auditors, Grant Thornton Malaysia PLT have expressed their willingness to continue in office. The amount of audit and other fees paid or payable to the Auditor and its affiliate firm by the Group and the Company for the financial year ended 31 December 2025 amounted RM180,000 and RM48,000 respectively. Further details are disclosed in Note 25 to the financial statements. The Group and the Company have agreed to indemnify the Auditors, Grant Thornton Malaysia PLT to the extent permissible under the provision of the Companies Act 2016 in Malaysia. However, no payment has been made arising from this indemnity for the financial year. Signed on behalf of the Board of Directors in accordance with a resolution of the Board of Directors. …..........….............................................……. LOW KOK POH ) ) ) ) DIRECTORS ) ) ) ) ............................................................……. . NG YAP SIO Kuala Lumpur 15 April 2026
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