RAMS Solutions Sdn. Bhd. (“RAMS”), a wholly-owned subsidiary of the Company, had on 1 August 2024 entered into a Business Partner Agreement (“Agreement”) with Hono Asia Pte. Ltd. (“HONO”) to appoint RAMS as the authorised business partner for the sales and marketing activities in relation to the payroll compliances and other Human Resource (“HR”) related statutory compliance services, New Age IT enabled HR Solutions like Employee Engagement, Collaboration as well as HR Management System using its proprietary SAAS platform, programs, and applications of HONO in the South East Asia not exclusive to Malaysia, Singapore, Thailand, Indonesia, Vietnam, Philippines on a non-exclusive basis for the term of three (3) years begining from 1 August 2024 unless terminated by either party, subject to the terms and conditions as stipulated in the Agreement.

The Board of Directors of RAMSSOL (“Board”) is pleased to announce that RAMS had on 7 October 2024 entered into an Addendum Agreement (“Addendum Agreement”) to the Agreement whereby RAMS and HONO mutually agreed to amend the Agreement in accordance with the terms and conditions as set out in the Addendum Agreement.

Please refer to the attachment for more details on the Agreement and Addendum Agreement.

This announcement is dated 7 October 2024.