(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcement dated 30 September 2024 and 31 January 2025).

Reference is made to the Company's announcement dated 30 September 2024 and 31 January 2025 in relation to the conditional Shares Sale Agreement (“SSA”) with Yamaguchi Mfg Co. Ltd (“Yamaguchi” or “Purchaser”) for the proposed disposal of 2,300,000 ordinary shares, representing 46% of the total number of issued shares in Sanyco Grand Industries Sdn. Bhd. (“Sanyco”), a wholly-owned subsidiary of the Company (“Sale Shares” or “Sanyco Shares”), for a total cash consideration of RM5,071,369.00 (“Disposal Consideration”), subject to the terms and conditions of the SSA (the “Proposed Disposal”).

The Board of Directors of SMIS (“Board”) is pleased to announce that the conditions precedent as set out in the conditional SSA has been fulfilled on 28 February 2025.  Accordingly, the SSA has become unconditional.

The announcement is dated 28 February 2025.