1. INTRODUCTION
The Board of Directors of NEXG is pleased to announce that the Company had on 18 July 2025, incorporated MyNasional Holdings Sdn Bhd (“MHSB”), a new wholly-owned subsidiary in Malaysia (“Incorporation”).
2. INFORMATION ON MHSB
MHSB was incorporated on 18 July 2025 as a private limited company with an issued share capital of RM1,000,000.00 comprising 1,000,000 ordinary shares. Its intended principal activity is that of a holding company.
3. RATIONALE OF THE INCORPORATION
The incorporation is primarily to facilitate the business expansion plans of NEXG Group into artificial intelligence (AI), data intelligence, and national digital infrastructure solutions. Through MHSB, the Group aims to consolidate and scale its ventures in AI-powered eKYC verification, corporate registry and credit profiling services, and transformative, next-generation AI solutions. This strategic move aligns with the Group’s long-term vision to support Malaysia’s digital economy agenda by advancing trusted, AI-driven platforms for both government and private sector applications.
4. FINANCIAL EFFECTS
The Incorporation will not have any effect on the share capital and substantial shareholders’ shareholding of the Company and is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Company for the financial year ending 31 March 2026.
5. DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTEREST
None of the Directors or Substantial Shareholders of NEXG or persons connected with them has any interest, whether direct or indirect in the Incorporation.
6. DIRECTORS’ STATEMENT
The Board of Directors of NEXG is of the opinion that the Incorporation is in the best interest of the Company.
7. APPROVAL REQUIRED
The Incorporation is not subject to the approval of shareholders of the Company or any relevant authorities.
This announcement is dated 18 July 2025.