The Board of Directors of Priceworth International Berhad announced that Maxland Auto Sdn Bhd, its indirect wholly-owned subsidiary of the Company had on 1 March 2024 entered into a Distribution Agreement with Higer Bus Company Limited for the distribution, assemble, promote and sell its bus products under the brand name Higer in East Malaysia (Sabah & Sarawak). Salient Terms Of The Distribution Agreement: Under the Distribution Agreement, Higer agrees to grant Maxland Auto the distribution rights to sell bus products in East Malaysia. Without prior approval by the Manufacturer, the Distributor may not directly or indirectly sell bus products outside East Malaysia.

The duration of the Distribution Agreement is for a period of 36 months from the date of signing of the Distribution Agreement and shall continue in full force and effect until and unless terminated by parties in accordance with the terms and conditions stated in the Distribution Agreement. Rationale: The Distribution Agreement being incurred is part of the ordinary course of business of Maxland Auto.