ISDN Holdings announced the renewal of its longstanding commercial partnership with Dirak Holding. ISDN has enjoyed a long partnership with Dirak to provide for the manufacturing and sale of a broad set of innovative engineering components including hinges, locks, latches, fasteners and other industrial hardware with quick latching snap technology. ISDN and Dirak previously entered into Master Supply Agreements on 2 January 2020 and 1 December 2021 regarding: · The commercial manufacturing of a set of Product A produced by ISDN and sold to Dirak; and · The commercial distribution of a different set of Product B produced by Dirak and sold by ISDN throughout Asia.

These commercial agreements allow ISDN to leverage its manufacturing experience to produce Product A for Dirak to sell to global markets; and provide ISDN with access to Product B to distribute to ISDN's customers and markets across Asia. The existing MSAs expire on 31 December 2022. Accordingly, on 6 December 2022, ISDN and Dirak Holding renewed their partnership by entering into a Renewal Supply Agreement for a term of three years commencing on 1 January 2023 and ending on 31 December 2025.