Starbox Group Holdings Ltd. announced that its Malaysian subsidiary, Starbox Rebates Sdn. Bhd., has entered into a Software Licensing Agreement with Brandavision Sdn Bhd. Pursuant to the Software Licensing Agreement, the Company has agreed to provide technology support with its unique, internally developed IT system to help Brandavision use the data management system to better target customers and improve operational efficiency.

The salient terms of the Software Licensing Agreement are as follows: i) The contract period shall be for three (3) years, commencing March 24, 2023, and ending March 23, 2026 (the " Contract Period"); ii) The total contract sum during the Contract Period is MYR 12,400,000 (equivalent to USD 2,800,045, based on the exchange rate of USD 1.00: MYR 4.4285 as at March 23, 2023); and iii) The Company will grant Brandavision access to its data management system and will help train the staff of Brandavision with respect to its use.