ORION IXL BERHAD (554979-T)
(Incorporated in Malaysia)

SUMMARY OF KEY MATTERS DISCUSSED AT THE SIXTEENTH ANNUAL GENERAL MEETING (“16TH AGM”) OF ORION IXL BERHAD (“COMPANY”) DULY CONVENED AND HELD AT DEWAN BERJAYA BUKIT KIARA RESORT, JALAN BUKIT KIARA, OFF JALAN BUKIT KIARA, 60000 KUALA LUMPUR, WILAYAH PERSEKUTUAN (KL)
ON FRIDAY, 23 NOVEMBER 2018 AT 3.00 P.M.


 

Encik Yahya bin Razali (“Meeting Chairman”) chaired the 16th AGM of the Company. The Meeting Chairman called the Meeting to order at 3.00 p.m. and the Secretary confirmed the presence of a requisite quorum for the Meeting.

Subsequent to the above, the Meeting Chairman opened the floor for questions on the AFS of the Company for financial period ended 30 June 2018.

The following were queries raised by shareholders and the responses made by the Board members:-

Question 1

Mr William Ng (Shareholder) enquired on the future prospects after the profit guarantee?

Encik Shaharul replied that further to the acquisition of ASAP Berhad, the Company had streamlined its computerised maintenance management system (CMMS) business and repositioned itself as a technology company.

Further, the Group entered into following agreements:

  1. The Company entered into a Strategic Partnership Agreement with Riametric Sdn Bhd on 15 August 2018 to offer its customers advanced implementation, services, support and training on the Orion IXL–Scalend Advanced Analytics Platform which enable the Group to offer big data analytics solutions to its clients.
  2. Sukaniaga Sdn Bhd (“Sukaniaga”) entered into a service level agreement with MyAngkasa Holdings Sdn Bhd (“Angkasa”) on 11 October 2018 for the development of the E-Angkasa Az-Zahara system (“Angkasa SLA”), which provides online digital end to end solutions from the stage of the loan application to the loan approval process (FINTECH), including its operation and maintenance.

On the same day, Ganda Integrasi Sdn Bhd, the wholly-owned subsidiary of the Company entered into a technical services agreement with Sukaniaga to provide all services to be rendered by Sukaniaga to Angkasa under the Angkasa SLA on a back to back basis.

He is of the opinion that future prospects remain favourable with the inclusion of new big data analytics together with artificial intelligence software services which will provide financial technology (FINTECH) solutions to potential clients.

Question 2

Mr William enquired as to why the Directors disposed substantial amounts of their shares and warrants?

Encik Shaharul informed that the Directors had bought more shares yesterday. He mentioned that there were no bad intentions behind the disposals.

Question 3

Mr William requested an update on the status of material litigations.

Encik Shaharul replied that the Court had fixed the new trial dates between 25 February 2019 to 27 February 2019 and a final case management on 18 January 2019 for Court to give any final directions for the upcoming trail.

Question 4

Encik Ahmad Ibrahim (Shareholder) recommended that the Company include a five-year financial highlights in the future Annual Reports.

The Board of Directors duly noted.

With that, the Meeting Chairman concluded the questions and answers session for Agenda 1, and proceeded to the next agenda item.

There were no questions raised for Agenda items 2 to 8. All the resolutions tabled at the 16th AGM of the Company and voted upon by poll were duly passed by the shareholders.

There being no other business, the Meeting terminated at 3.45 p.m. with a vote of thanks to the Meeting Chairman.