(For consistency, the abbreviation used in this announcement shall have the same meaning defined in the announcements dated 4th December 2020 and 8th December 2020 respectively, where applicable, unless stated otherwise or defined herein)

Following our earlier announcements in relation to the Proposed Collaboration dated 4 December 2020 and 8 December 2020, the Board wishes to announce that: -

(i) The Company had on 28 December 2020 incorporated a 70% owned-subsidiary, known as YTB Healthcare Sdn Bhd (“YTBH”) for a cash consideration of RM70.00 comprising 70  ordinary shares;

(ii) The Company and SZKT have on 6 January 2021, by way of extension letter, agreed to work towards the definitive commercialisation agreement (“Definitive Agreement”) on or before 3 February 2021. All other terms and provisions contained in the HOA shall remain unchanged;

(iii) YTBH has on 6 January 2021 entered into a Collaboration Agreement (“CA”) with Tiong Nam Logistics Solutions Sdn Bhd (“Tiong Nam”) to engage Tiong Nam to provide total logistics services which include transportation, warehouse space storage and distribution of the pharmaceutical products such as Covid-19 Vaccine (“Products”); and

(iv) YTBH has on 6 January 2021 entered into Service Provider Agreement (“SA”) with Healthcliqs Sdn Bhd (“Healthcliqs”) to engage Heathcliqs as service provider for the provision of services which include, amongst others, promotional sales campaign, marketing activities and virtual sales representation services of the Products.

The details of the annoucement are set out in the attachment. 

This announcement is dated 6 January 2021.