INTRODUCTION

KKB is pleased to announce that OceanMight Sdn. Bhd. (“OMSB”), a subsidiary of the Company has entered into a Memorandum of Understanding (“MOU”) with Samsung Engineering Co., LTD. (“SECL”), a company whose registered office is at Samsung GEC, 26, Sangil-ro 6-gil, Gandong-gu, Seoul 05288, Korea for both parties to cooperate and collaborate with each other in the preparation, submission and negotiation of tenders for projects worldwide which may involve specialized scope of work and supply such as Engineering, Procurement and Construction of offshore and onshore oil and gas process modules and structures.

DURATION OF CONTRACT

The MOU shall be valid for 2 years subject to the terms of the MOU.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned MOU.

DIRECTORS’ STATEMENT

The Board is of the opinion that the abovementioned MOU is in the best interest of KKB and its Group.

This announcement is dated 8 February 2024.