The Board of Directors of the Company is pleased to announce that AppAsia Cloud Sdn. Bhd. [Registration No. 200201029038 (596701-T)] (“ACSB”), a wholly owned subsidiary of the Company had on 20 May 2022 entered into a Collaboration Agreement (“the Agreement”) with The Whale Labs Pte. Ltd. [Company No. 202205508W)] (“TWL”) (collectively referred to as “the Parties”) for the development and maintenance of Arktory Metaverse Platform.