The Board of Directors of Sunsuria Berhad announced that the Company had on 21 November 2022 entered into a Memorandum of Understanding with Nanjing University of Chinese Medicine to foster joint development of Traditional Chinese Medicine centre in Malaysia. Under the terms of the MoU, both Parties agreed, inter-alia, on the following: to jointly develop a China-Malaysia Chinese Medicine Center; to cooperate to build a TCM Service Export Hub; to carry out TCM-centric academic education and non-academic training; and to form other cooperations as agreed upon both parties. The MoU shall become effective from the date of the execution of the MoU and shall remain in force and effect for a valid term of five (5) years, unless terminated or renewed upon mutual agreement between the Parties.

The MoU is not expected to have a material effect on the earnings, net assets and gearing of the Company and of the Group for the financial year ending 30 September 2023. The MoU will not have any effect on the issued and paid-up share capital of the Company as well as its director or its substantial shareholdings. The MoU is an effort for international cooperation spearheaded by the National Administration of Traditional Chinese Medicine of China, which will be jointly initiated by NJUCM and Sunsuria.

The MoU is not subject to the approval of the shareholders of Sunsuria or any other relevant authorities. None of the Directors, major shareholders and/or persons connected with a Director or a major shareholder of the Company, have any interest, direct or indirect, in the MoU. The MoU is available for inspection at the Registered Office of the Company at Suite 8, Main Tower, Sunsuria Avenue, Persiaran Mahogani, Kota Damansara PJU 5, 47810 Petaling Jaya, Selangor during normal office hours from Mondays to Fridays for a period of three months from the date of this announcement.