NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D) (b) On 30 March 2023, the Company entered into a Partnership Agreement with East Logistic-Link Co., Ltd, a wholly-owned agency of the General Administration of Customs of the People’s Republic of China. This agreement aims to facilitate cross-border trade by jointly providing a comprehensive range of services, including certificates of origin on the Zetrix blockchain platform. The integration of this technology is expected to enhance the accuracy and efficiency of data availability for tariff computation and customs clearance, particularly within the Regional Comprehensive Economic Partnership member nations. The agreement primarily focuses on international exports entering China, and exporters are now eligible to register for the service, known as Ztrade, at Zetrix.com. (c) On 12 April 2023, MLSB, a subsidiary of the Company received a letter of acceptance from Penang Development Corporation (“PDC”) for a project at Batu Kawan Industrial Park 3 (BKIP 3), Pulau Pinang. The project involves leasing 8.39 acres of land for RM20,393,137 over 30 years to construct and manage a workers village and related facilities for 7,500 foreign workers. (d) On 8 May 2023, the Company announced that its joint venture company, MYEG Philippines has launched a payment processing service for the Securities and Exchange Commission Philippines providing more convenient payment options to the Filipino public. This initiative reinforces MYEG Philippines’ leading position as an e-government services provider in the Philippines. (e) On 30 May 2023, Zetrix, the Layer-1 blockchain platform by the Company had successful deployment of the Xinghuo International Supernode, along with the introduction of the Xinghuo Blockchain Infrastructure and Facility (“Xinghuo BIF”) naming services, compliant with W3C International Standards. Following an agreement between MYEG and China’s national blockchain, Xinghuo BIF now owns and operates the Xinghuo International Supernode, marking a significant milestone for real-world use cases on the Zetrix blockchain. Xinghuo BIF which is supported by the China Academy of Information and Communications Technology (“CAICT”), serves as a national blockchain infrastructure facilitating global trade connectivity. This deployment signifies MYEG’s commitment to pioneering blockchain technology adoption and facilitating cross-border trade. (f) On 14 June 2023, the Company collaborates with Universiti Malaya (“UM”) and the CAICT for the expansion of its research in development of Artificial Intelligence technology. This expansion builds upon a collaborative project initiated in February 2023, titled “Research on Key Issues of China-Malaysia Transborder Blockchain Infrastructure and Pilot Applications”, which was part of the intergovernmental collaboration between Malaysia and the People’s Republic of China in Science, Technology, and Innovation. (g) On 14 June 2023, the Company has entered a non-binding Memorandum of Understanding (“MOU”) with Oyika Green Technologies Sdn. Bhd. regarding a collaboration on the use of electric motorcycles and the placement of battery swapping stations at designated locations for a trial period. This initiative aligns with the Company’s ongoing efforts to reduce carbon emissions as part of its overarching commitment to achieving net zero by 2050. (h) On 7 July 2023, the Company announced an extension of its role as the provider of online services for the Immigration Department of Malaysia, following a notification letter dated 4 July 2023 from the Ministry of Home Affairs. This extension, subject to finalisation of terms through further discussions with the Government, allows the Company to also serve as the collection agent for Government revenue. (i) On 27 July 2023, the Company announced a MOU involving its joint venture, MYEG Philippines, MYEG Ventures Inc. (“MVI”), Cargo Data Exchange Center Inc. (“CDEC”), and the Philippines Bureau of Customs (“BOC”). The MOU aims to deploy Zetrix blockchain-based customs clearance and processing services for the BOC, with collaboration from all parties. MYEG Philippines and MVI will provide the Zetrix Platform in the Philippines, with CDEC facilitating API integration, while the BOC will approve its use for PhilippinesChina exports. This announcement highlights the Company’s strategic initiative to enhance customs clearance processes through blockchain technology, underscoring the Company’s commitment to innovation and efficient service delivery in partnership with key stakeholders in the Philippines. ANNUAL REPORT 2023 257 (b) On 30 March 2023, the Company entered into a Partnership Agreement with East Logistic-Link Co., Ltd, (c) On 12 April 2023, MLSB, a subsidiary of the Company received a letter of acceptance from Penang (d) On 8 May 2023, the Company announced that its joint venture company, MYEG Philippines has launched (e) On 30 May 2023, Zetrix, the Layer-1 blockchain platform by the Company had successful deployment of (g) On 14 June 2023, the Company has entered a non-binding Memorandum of Understanding (“MOU”) with FINANCIAL STATEMENTS
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