-On August 17, 2026, TADAA Technologies Sdn. Bhd. ("TADAA"), a subsidiary of the Company, and Apexcode Innovations Sdn. Bhd. ("Apexcode"), entered into a Mutual Termination Agreement (the "Termination Agreement") to terminate the Software Enhancement Agreement dated March 11, 2026 (the "Prior Agreement"), which was previously reported on a Current Report on Form 8-K filed on March 12, 2026.

 

The Prior Agreement had a total contract price of Ringgit Malaysia Eleven Million Seven Hundred Thousand (RM11,700,000.00). Pursuant to the Termination Agreement, the parties mutually agreed to terminate the Prior Agreement. Apexcode had completed and delivered the Phase 1 Deliverables, which were accepted by TADAA. TADAA irrevocably waived its right to claim a refund of the first milestone payment of RM3,900,000.00 (previously paid as a refundable deposit) in recognition of Apexcode’s completion of the Phase 1 Deliverables.

 

All intellectual property rights in the Phase 1 Deliverables remain vested in TADAA. The parties exchanged mutual releases of claims arising out of or related to the Prior Agreement, subject to the rights and obligations created by the Termination Agreement.