On behalf of the Board of Directors of SUNZEN, M&A Securities Sdn Bhd wishes to announce that the Company proposes to undertake a private placement of up to 20% of the total number of issued shares (“Proposed Private Placement”).

The Proposed Private Placement will be undertaken in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016 obtained from the shareholders of the Company at the Annual General Meeting convened on 29 June 2021, whereby the Company is seeking for authority to be given to allot and issue new ordinary shares not exceeding 20% of the total number of issued SUNZEN shares ("Shareholders’ Mandate"). The Shareholders’ Mandate may be utilised until 31 December 2021, after which the 10% limit under Rule 6.04(1) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad will be reinstated.

Further details of the Proposed Private Placement are set out in the attachment below.

This announcement is dated 27 September 2021.