NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D) (s) On 6 December 2023, the Company disclosed the execution of a Lease Agreement between MYEGNC and PDC for a 30-year term commencing from the date of Legal Possession of the Land, at a lease consideration of RM20,403,588. 47. SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD (a) On 22 January 2024, Zetrix, a prominent layer-1 public blockchain platform developed by the Company, joined forces with Web3Labs Hong Kong and Summer Capital to advance Hong Kong’s Web3 aspirations and establish Zetrix as the preferred blockchain infrastructure for government-aligned applications in the region. Partnerships with key stakeholders in China, Malaysia, and the Philippines have been announced which underscores a commitment to advancing blockchain technology and fostering innovation in the region. (b) On 16 February 2024, the Company announces that MYEG Philippines, in collaboration with the Social Security System of the Philippines, has established a partnership to streamline the payment process for SSS PH members. This initiative aims to facilitate convenient and efficient online payment of loans and contributions through MYEG Philippines’s website, enhancing the overall payment experience for SSS PH members. Through this partnership, MYEG Philippines reinforces its position as a leading provider of e-government services in the Philippines. (c) On 26 February 2024, the Company entered a MOU with Sarawak Digital Economy Corporation Berhad (“SDEC”) to collaborate on providing Electronic Government Services in Sarawak. SDEC, wholly-owned by the Sarawak Government, aims to promote and strengthen the Sarawak Digital and Innovation Ecosystem in alignment with the Post Covid-19 Development Strategy 2030 and Sarawak Digital Economy Strategy 2030. (d) On 11 March 2024, the Company disclosed that MYEGC, completed the acquisition of 14,572,300 ordinary shares, representing approximately 14.40% equity interest in HeiTech Padu Berhad. The acquisition was conducted via Open Market and Direct Business Transaction, involving a total cash consideration of approximately RM31,247,960. (e) On 15 March 2024, the Company announced its collaboration with Direct Lending Sdn. Bhd., a digital financing platform, to introduce a Shariah-compliant Buy Now, Pay Later programme designed specifically for automotive services in Malaysia. This initiative allows Malaysians to access various essential automotive services such as flood repair, body and paint work, regular maintenance, towing, and tire replacement, with the flexibility of paying in affordable monthly installments for up to 12 months. 48. 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. ANNUAL REPORT 2023 259 (s) On 6 December 2023, the Company disclosed the execution of a Lease Agreement between MYEGNC (a) On 22 January 2024, Zetrix, a prominent layer-1 public blockchain platform developed by the Company, (b) On 16 February 2024, the Company announces that MYEG Philippines, in collaboration with the Social (c) On 26 February 2024, the Company entered a MOU with Sarawak Digital Economy Corporation Berhad (d) On 11 March 2024, the Company disclosed that MYEGC, completed the acquisition of 14,572,300 ordinary (e) On 15 March 2024, the Company announced its collaboration with Direct Lending Sdn. Bhd., a digital FINANCIAL STATEMENTS
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