The Board of Directors ("Board") of Bonia Corporation Berhad ("Bonia" or "Company" or "Proposed Subscriber", and references to "Bonia Group" or "Group" are to Bonia and our subsidiaries) wishes to inform that the Company had on 19 March 2024, entered into a letter of intent ("LOI-ITSH") with IT SEA Holdings Sdn. Bhd. ("ITSH") to further discuss and explore the potential subscription by Bonia of 6,193,000 new ordinary shares equivalent to or representing 30% of the total enlarged number of issued shares of ITSH (post-Proposed Subscription) at the total subscription consideration of RM7,500,000.00 based on discounted cashflow valuation subject to the final findings, results and valuation from or of the due diligence exercise to be conducted on ITSH and its subsidiaries/associate. (collectively, "Proposed Subscription").

Please refer to the attachment for the full text of this announcement including, but not limited to, the details of the LOI-ITSH.

This announcement is dated 19 March 2024.

Please refer attachment below.