MESB s duties and obligations in relation to MYEL will be as follow: ii) promote the Business of the Company; and

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1 - SHAREHOLDERS AGREEMENT ENTERED BETWEEN MY EG SDN. BHD. ( MESB ), BRIGHT BILLION CO. LTD., TENGKU ZAINUDDIN BIN TENGKU ZAHID, MOHD FARHAN DZIAUDIN BIN MOHD DAUD AND MY EG 1. INTRODUCTION The Board of Directors of MYEG wishes to announce that its wholly owned subsidiary, MESB had on 16 August 2016 entered into a Shareholders Agreement with Bright Billion Co. Ltd. ( Bright Billion ), Dato Tengku Zainuddin Bin Tengku Zahid ( Dato Tengku ) and Mohd Farhan Dziaudin Bin Mohd Daud ( Farhan ) (collectively referred to as the Shareholders ) and MY EG Lodging Sdn. Bhd. ( MYEL ) for the purpose of regulating the relationship inter se of the Shareholders in MYEL and set out among others the financial, administrative and other arrangements which shall apply to MYEL and the manner in which the affairs of MYEL are to be regulated as more particularly set out and upon the terms and conditions contained in the Shareholders Agreement. 2. INFORMATION ON THE SHAREHOLDERS AND MYEL 2.1 MESB MESB was incorporated in Malaysia on 23 November The principal activities of the MESB is the development and implementation of the Electronic Government services project and provision of other related services for the Electronic Government services project. MESB s duties and obligations in relation to MYEL will be as follow: i) to provide corporate, management and administrative advice on corporate, structuring, financial, fund raising, technical, legal and operation matters and to be responsible for the general operations and management of the Company; ii) promote the Business of the Company; and iii) to provide any initial funding to the Company of up to the principal amount of RM3,000, only in the manner and upon terms and conditions to be mutually agreed between MESB and the Company. 2.2 BRIGHT BILLION Bright Billion was incorporated in the British Virgin Islands on 24 May The principal activities of Bright Billion are provision of information technology services, development of software solutions and investment holding. The shareholder and director of Bright Billion is Mr Quek Tee Kiam ( Quek ). Quek is not related to the Directors and/or major shareholders of MYEG. 1

2 Bright Billion s duties and obligations in relation to MYEL will be as follow: i) establish, transfer, vest, maintain, protect and preserve all intellectual property ownership and rights required and/or used by the Company to undertake its Business, operations and processes onto the Company including but not limited to all sales and/or delivery networks and processes employed and the products and services dealt with by the Company. For the avoidance of doubt, all Intellectual Property ownership and rights required and/or used by the Company to undertake its Business, operations and processes and derivatives arising therefrom belong to the Company at all times and this Clause does not in any way recognises Bright Billion s right or claim thereto; ii) not to work, undertake, invest or be in any way involved (whether directly or indirectly) in any business or entity which is similar and/or in competition with the Company and/or its Business; and iii) to manage, oversee and guide the development team of the Company set up for the purposes of developing and maintaining all and any Technology and Intellectual Property of the Company as ascribed by the Company. 2.3 DATO TENGKU Dato Tengku is a Malaysian and will be responsible to liaise with all government, semi government, statutory and local authorities and councils as may be required from time to time by the Company and/or for the purposes of the Business. Dato Tengku is not related to the Directors and/or major shareholders of MYEG. 2.4 FARHAN Farhan is a Malaysian and will be responsible to liaise with all government, semi government, statutory and local authorities and councils as may be required from time to time by the Company and/or for the purposes of the Business. Farhan is not related to the Directors and/or major shareholders of MYEG. 2

3 2.5 MYEL MYEL was incorporated on 20 July 2016 in Malaysia under the Companies Act, The authorised share capital of MYEL is RM400, divided into 400,000 ordinary shares of RM1.00 each. The total issued and paid-up share capital of MYEL is RM divided into 100 ordinary shares of RM1.00 each, held by the following parties:- Shareholders Number of Share Percentage (%) MESB 55 55% Bright Billion 30 30% Dato Tengku 10 10% Farhan 5 5% Total % The principal activity of MYEL is to build, own and operate hostels for foreign workers. The current Directors of MYEL are Dato Tengku and Nor Adnan Bin Zainal Abidin 3. SALIENT TERMS OF THE SHAREHOLDERS AGREEMENT 3.1 Equity Participation in MYEL The Shareolders hereto agree that the shareholdings of MYEL shall, unless otherwise varied in accordance with the provisions of the Shareholders Agreement, be maintained at all times in the roportions set out below:- Shareholders Percentage (%) MESB 55 Bright 30 Dato Tengku 10 Farhan 5 Total 100 The share capital shall be increased from RM100 to RM1,000,000 upon execution of the Shareholders Agreement. 3.2 Board of Directors of MYEL Upon or immediately after the execution of the shareholders agreeement, the Board of MYEL shall consist of at two (2) directors of whom:- 3

4 A. MESB shall be entitled to appoint two (2) directors; and B. The minority shareholders shall be entitled to appoint one (1) director. 4. RATIONALE FOR THE EXECUTION OF THE SHAREHOLDERS AGREEMENT The Shareholders Agreement would facilitate the cooperation between the Shareholders and MYEL to regulate the relationship inter se of the Shareholders in MYEL and set out among others the financial, administrative and other arrangements which shall apply to MYEL and the manner in which the affairs of MYEL are to be regulated as more particularly set out and upon the terms and conditions contained in the Shareholders Agreement. 5. EFFECTS OF THE EXECUTION OF THE SHAREHOLDERS AGREEMENT 5.1 Share capital The execution of the Shareholders Agreement will not have any effect on the issued and paid-up share capital of MYEG. 5.2 Substantial shareholders shareholdings The execution of the Shareholders Agreement will not have any effect on the substantial shareholders shareholdings of MYEG. 5.3 Net assets per share and gearing The execution of the Shareholders Agreement will not have any material effect on the net assets per share and gearing of MYEG for the financial year ending 30 June Earnings per Share The execution of the Shareholders Agreement is not expected to have any material effect on the earnings per share of MYEG for the financial year ending 30 June

5 6. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM None of the directors of MYEG or persons connected to them has any interest, direct or indirect, in the Shareholders Agreement. The Board is not aware of any other major shareholders or persons connected to them having interest, direct or indirect, in the Shareholders Agreement. 7. STATEMENT BY BOARD OF DIRECTORS The Board of Directors of MYEG, having considered all aspects of the Shareholders Agreement, is of the opinion that entering in the Shareholders Agreement is in the best interests of MYEG. 8. APPROVALS REQUIRED The execution of the Shareholders Agreement is not subject to the approval of shareholders and any other relevant authorities and is not conditional upon any other corporate exercise undertaken by MYEG. This announcement is dated 16 August