We refer to the earlier announcement made on 21 January 2022 in relation to the Memorandum of Agreement with Eduspec Holdings Berhad.

The Board of Directors of IB wishes to announce that on 3 November 2022, the Company has entered into a Letter of Agreement (“LOA”) with Mr. Ng L’yp-Hau [NRIC No.: 710802-10-6509], a Malaysian residing at A-29-2, The Maple, 1A, Persiaran Park View, 51100 Kuala Lumpur, Wilayah Persekutuan (“LH”) for the proposed acquisition of 50,000 ordinary shares which represents 50% equity interests in 5T3M Sdn. Bhd. [Registration No.: 201901037261 (1346591-P)] (“5T3M”), a subsidiary of Eduspec Holdings Berhad (“Eduspec”), for a total consideration of RM1,000,000.00 (Ringgit Malaysia : One Million Only) to be satisfied entirely via cash, subject to the terms and conditions contained in the LOA (hereinafter referred to as “Proposal”). 

Please refer to attachment below for full description of the announcement.

This announcement is dated 3 November 2022.

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