NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) 48. SIGNIFICANT EVENTS AFTER THE FINANCIAL YEAR (a) On 5 January 2023, MLSB has made the first payment amounting to RM1,298,250 for the purchase of leasehold land at PLO 145, Muar Furniture park from Johor Corporation with total consideration of RM12,982,500. On 17 January 2023, the Company obtained the Vacant Possession from Johor Corporation for the leasehold land at PLO 69, Tanjung Langsat Industrial Complex in relation to a proposed Tanjung Langsat Foreign Workers’ Accomodation (“FWA”) project. (b) On 14 February 2023, The Board of Directors of the Company wishes to announce that Zetrix has been chosen by the Chinese Government as a component of its government-to-government (G2G) program. Initiated by the Ministry of Science and Technology (MOST) of China, Malaysia is one of the 14 countries that are participating in the programme. The China-Malaysia G2G cooperation covers four sectors, including public health (such as vaccine research and development (R&D)), Artificial Intelligence (AI), Information and Communications Technology (ICT) (blockchain, big data, etc.), as well as space remote sensing technology. (c) On 7 March 2023, MLSB incorporated a wholly-owned subsidiary with 100 ordinary shares; representing 100% of equity interest in MY EG Lodging (Muar) Sdn. Bhd. for a total consideration of RM100. (d) On 13 March 2023, the first tranche of the dividend-in-specie consisting of 69,750,000 Agmo Shares held by the Company through MYEG Capital has been completed on 10 March 2023, following the distribution of 69,724,752 Agmo Shares to the entitled shareholders, the remaining 25,248 Agmo Shares arising from fractional entitlements will be retained by MYEG Capital. (e) On 30 March 2023, the Company entered into a Partnership Agreement with East Logistic-Link Co., Ltd, a wholly-owned agency of General Administration of Customs of the People’s Republic of China for the Company to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on the Zetrix blockchain platform. This will enable all relevant data to be available accurately in near real-time, hence, increasing the efficiency of tariff computation and customs clearance, especially for trade within the Regional Comprehensive Economic Partnership member nations. The scope of the Agreement covers international exports going into China and exporters may now register to use the service known as Ztrade at Zetrix.com. 49. CAPITAL MANAGEMENT The Group manages its capital to ensure that entities within the Group will be able to maintain an optimal capital structure so as to support their businesses and maximise shareholders’ value. To achieve this objective, the Group may make adjustments to the capital structure in view of changes in economic conditions, such as adjusting the amount of dividend payment, returning of capital to shareholders or issuing new shares. 246
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