The Board of Directors of Scomi Group Bhd announced that Scomi Capital Sdn Bhd (a wholly-owned subsidiary of SGB-"SCSB") has on 07 Sep. 2022 entered into a loan agreement with Rentak Rimbun Sdn Bhd in relation to the provision of financial assistance to SCSB amounting to MYR 727,500.00. RRSB is a substantial shareholder of the Company.

En Shah Hakim @ Shahzanim Bin Zain has shareholding interest in RRSB and is also deemed a substantial shareholder of SGB through his direct and indirect shareholding in the Company. En Shah Hakim is deemed interested in the Financial Assistance. Financial Assistance – Principal Salient Terms: The Financial Assistance is for the purpose of meeting the working capital requirements of the SCSB.

The loan is interest-free with one-off management fees of RM7,275.00 (“Management Fees”) payable on repayment of the loan. The Financial Assistance is for a tenure of 2 months ("Repayment Date"). Pledge of 100,000 ordinary shares of SCSB owned by SGB representing 100% shareholding in SCSB (“Security”) as security for the Financial Assistance.

Financial Effects on the Financial Assistance. Share Capital, Substantial Shareholders' Shareholding and Net Assets ("NA"). The Financial Assistance will not have any effect on the issued and paid-up share capital, substantial shareholders' shareholding and consolidated NA of SGB.

Earnings: The Financial Assistance is not expected to have any material effect on the consolidated earnings of SGB. Other Matters: The Financial Assistance is not subject to any approval from the regulatory authorities or the shareholders of SGB.