Innity Berhad : Summary of key matters at 15th AGM

INNITY CORPORATION BERHAD

200701006554 (764555-D)

(Incorporated in Malaysia)

Summary of Key Matters Discussed at the

Fifteenth Annual General Meeting ("15th AGM") of Innity Corporation Berhad

conducted fully virtual through live streaming from the online meeting platform of TIIH online provided by Tricor Investor & Issuing House Services Sdn. Bhd. in Malaysia via its website at https://tiihonline.comon Friday, 3 June 2022 at 9.30 a.m.

PRESENT:
1.	Shareholders	-	As per the Attendance List.
2.	Proxy Holders	-	As per the Attendance List.
DIRECTORS PRESENT AT BROADCAST VENUE:
1.	Mr Phang Chee Leong	-	Executive Chairman
		-	Others as per attendance list
BY INVITATION:
1.	Mr Fung Kam Foo	-	Independent Non-Executive Director
2.	Mr Cheong Chee Yun	-	Independent Non-Executive Director
3.	En. Shamsul Ariffin Bin Mohd Nor	-	Independent Non-Executive Director
4.	Mr Seah Kum Loong	-	Executive Director
5.	Mr Wong Kok Woh	-	Executive Director
6.	Mr Looa Hong Tuan	-	Executive Director
7.	Mr Gregory Charles Poarch	-	Non-IndependentNon-Executive Director
8.	Mr Michihiko Suganuma	-	Non-IndependentNon-Executive Director
9.	Ms Yap Soon Kim	-	Chief Financial Officer
IN ATTENDANCE
1.	Ms Tham Yin Tong	-	Company Secretary
2.	Mr Lee Sing Sian	-	Representatives of Tricor Corporate Services
			Sdn. Bhd.
3.	Ms Calynn Chiew Yun Hua	-	Representatives of Tricor Corporate Services
			Sdn. Bhd.

1. FULLY VIRTUAL 15th ANNUAL GENERAL MEETING PROCEEDINGS
   The 15th Annual General Meeting (AGM) was fully conducted virtually in accordance with the provision of Section 327 of the Companies Act 2016 and pursuant to Clause 52 of the Company's Constitution.
   The Company's 15th AGM proceeding was in accordance with the Securities
   Commission's Guidance and FAQs on the Conduct of Fully Virtual General Meetings for Listed Issuers issued on 18 April 2020 (subsequently revised on 7 Apr 2022) (SC Guidance Notes).
2. OPENING ADDRESS BY THE EXECUTIVE CHAIRMAN
   On behalf of the Board of Directors of Innity Corporation Berhad ("the Company" or "ICB"), Mr Phang Chee Leong ("the Chairman"), the Executive Chairman of the
   Company, welcomed all present at the meeting.
   Upon confirming a quorum pursuant to Clause 56(2) of the Company's Constitution, the
   Chairman called the meeting to order at 9.30 a.m.
3. SHAREHOLDERS' QUESTIONS SUBMITTED ELECTRONICALLY IN ADVANCE

Question raised by a shareholder was duly answer by the Executive Chairman, a copy of the questions and answers was annex hereto as Appendix A.

4. RESOLUTION PASSED

No	RESOLUTION		VOTE FOR	VOTE AGAINST	RESULTS
			NO OF	%	NO OF	%
			SHARES		SHARES
1.	Ordinary Resolution 1	98,680,917	99.9886	11,206	0.0114	Carried
	Re-election of Mr
	Phang Chee Leong
2.	Ordinary Resolution 2	69,680,877	99.9886	11,246	0.0114	Carried
	Re-election	of
	En.Shamsul Ariffin bin
	Mohd Nor
3.	Ordinary Resolution 3	98,680,917	99.9886	11,206	0.0114	Carried
	Re-election of Cheong
	Chee Yun
4.	Ordinary Resolution 4	98,680,837	99.9886	11,286	0.0114	Carried
	Directors' fees	for
	Financial Year Ending
	31 December 2022

4. RESOLUTION PASSED (CONT'D)

No	RESOLUTION			VOTE FOR	VOTE AGAINST	RESULTS
							NO OF	%	NO OF	%
							SHARE		SHARE
5.	Ordinary Resolution 5		98,680,797	99.9885	11,326	0.0115	.Carried
	Directors' Benefits	for	the
	period from 4 June 2022
	until the Sixteenth	Annual
	General Meeting
6.	Ordinary Resolution 6		98,680917	99.9886	11,206	0.0114	Carried
	Appointment	of	Messrs
	BDO PLT as Auditors of the
	Company
7.	Ordinary Resolution 7						Carried
	(Special		Business)	Tier 1	Tier 1	Tier 1	Tier 1
	Proposed	continuation	in	63,985,540	100.0000	0	0.0000
	Office	of	En. Shamsul
	Ariffin	bin	Mohd	Nor	as	Tier 2	Tier 2	Tier 2	Tier 2
	Independent		Non-	34,695,337	99.9676	11,246	0.0324
	Executive Director
8.	Ordinary Resolution 8		23,796,468	99.9529	11,206	0.0471	Carried
	(Special		Business)
	Proposed		renewal	of
	shareholders' mandate for
	Recurrent	Related Party
	Transactions of a revenue
	or	trading	nature
	("Proposed		Renewal	of
	Shareholders' Mandate)
9.	Ordinary Resolution 9		63,945,417	64.7928	34,746,706	35.2072	Carried
	(Special Business)
	Authority to	issue	Shares
	pursuant to sections 75 and
	76 of the Companies Act
	2016

All the resolutions were voted by poll in accordance with rule 8.31A of the ACE market listing requirements of Bursa Malaysia Securities Berhad

The Annual General Meeting concluded at 10.30a.m.

Appendix A

Questions and Answers

No	Name			Question			Answer
1.	Looi Boon Ping	1) What is	the outlook	of	Innity	Google and Facebook have been
		Corporation	Berhad ("Innity" or	dominating the market for a long time, since
		"the	Company"),	going	forward,	they started their operations in Asia Pacific.
		with	Google	and	Facebook	One of Innity's divisions is leveraging these
		dominating	the	market?	What	two platforms to extend our services to
		action plans or strategies does the	SMEs and SMIs, and it has been profitable.
		Company have to compete and win
		more customers from them?		We also partner with Google to ensure our
								ads inventories are available on Google to
								allow anyone to buy through DV360, a
								Google platform. Other than that, we have
								expanded our business to content
								marketing and influencer marketing, which
								has helped generate 60% of our sales and
								profit to date, since 2018.
								We are also working on two new products
								to curb the abolishment of third-party
								cookies to stay relevant in the business.

1. Why didn't Management close Innity's business has been strengthened by the business operations in South the presence of regional networks and

Korea, Cambodia and Myanmar,	those countries mentioned were set up to
and especially Taiwan, which has enhance our business presence in this
not been profitable for years?	region.
	The Management is aware of the current
	situation and has taken the following
	initiatives:
	a. Myanmar and South Korea business
	has been dormant, with minimum
	operation costs since 2020.
	b. The performance of Cambodia was
	affected by the travel and Covid
	restrictions during the pandemic. Our
	regional management staff were not
	allowed to visit the country. With the
	recent opening of borders by Malaysia
	and Southeast Asian countries, we
	believe the situation will improve.
	c. Although Taiwan is not profitable, we
	believe in the potential Taiwan can
	bring to the group. The healthy gross
	domestic	product trends,	combined
	with the geographical, social and
	language	advantages,	will
	complement our business in Hong
	Kong.

With more people digitally connected, global digital ads spending will continue to grow, and the Management is focusing on the business plans and is confident of achieving the group targets despite the non-profit making companies.