Reference is made to the Company's announcement made on 30 May 2024 in relation to the Memorandum of Understanding ("MOU") entered with Cambodia Agricultural Cooperative Alliance ("CACA"), CB General Insurance Plc ("CGI") and Flow Global Solutions ("FGS") for the purpose to establish cooperation measures in the development and implementation of a Rice Supply Chain Development Program in Cambodia, and the last announcement made on 27 February 2026 relating to the update of MOU.
Key Alliance Group Berhad ("KAG" or the "Company") wishes to announce that, as of todate, there has been no material development pertaining to the said MOU. After careful consideration, the Board is of the view that it is no longer feasible to continue the cooperation or collaboration under the said programme.
Pursuant to Article 4.4 of the MOU, either party may terminate the MOU unilaterally at any time by giving 30 calendar days' prior written notice to the other party ("Notice of Termination").
In connection with the above, the Board wishes to announce that the Company had, on 29 May 2026, served a Notice of Termination to CACA, CGI and FGS, respectively, informing them of the Company's intention to terminate the MOU and its participation in the Rice Supply Chain Development Program ("Termination of MOU"). As such, the MOU shall be deemed terminated on 29 June 2026, being 30 days from the date of the Notice of Termination.
The Termination of MOU is not expected to have any effect on the earnings per share, net assets per share and gearing of the KAG Group for the financial year ending 31 March 2027.
The Board of Directors of KAG, having taken into consideration all aspects of the Termination of MOU, is of the opinion that the Termination of MOU is in the best interest of the KAG Group.
The Notice of Termination is available for inspection at the registered office of the Company at 22-09, Menara 1MK, No. 1 Jalan Kiara, Mont Kiara, 50480 Kuala Lumpur between 8.30 a.m. and 5.30 p.m. from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 29 May 2026.