Minetech Announces Appointment of New Executive Chairman, Encik Abang Abdillah Izzarim

Company Welcomes New Chairman, Anticipating Expansion and New Opportunities in Sarawak

KUALA LUMPUR, 3 JANUARY 2024 – Minetech Resources Berhad ("Minetech" or the "Company"), a civil engineering specialist, bituminous products manufacturer as well as an emerging player in the solar energy space, is pleased to announce the appointment of Encik Abang Abdillah Izzarim Bin Abang Abdul Rahman Zohari as the Company’s new Executive Chairman.

Encik Abang Abdillah brings a wealth of experience and a hands-on leadership style to Minetech. Known for his active engagement in day-to-day operations, he has a proven track record of aligning teams with client expectations and fostering successful business partnerships. His entrepreneurial journey began with Aerotrain Charter, specializing in aviation cargo operations. Adding to this, his roles as a board member at Berjaya Land Berhad and Sarawak Consolidated Industries Berhad have equipped him with substantial insights into corporate governance and strategic planning. Starting his career as a commercial pilot, Encik Abang Abdillah has shown remarkable versatility and a keen sense for business development.

Prior to his appointment, Encik Abang Abdillah has acquired 15.58% of Minetech, amounting to 240.0 million shares, making him a substantial shareholder of the Company. This investment is a testament to his commitment and belief in the Company's potential.

Matt Chin, Executive Director of Minetech, commented, “We are delighted to welcome Encik Abang Abdillah Izzarim as our new Executive Chairman. His diverse experience, coupled with his entrepreneurial spirit, brings a unique perspective to our leadership. We believe his appointment and substantial investment in Minetech are indicative of a bright future for the Company, especially with the potential for expanding our reach in the Sarawak region, considering Encik Abang Abdillah's strong exposure in the region.”

Encik Abang Abdillah Izzarim, the Executive Chairman of Minetech expressed his enthusiasm, stating, “I am thrilled to join Minetech Resources Berhad. There is significant growth potential not only for Malaysia, particularly in the state of Sarawak, but also within the broader Asian region. I look forward to leveraging my experience and insights to explore these opportunities and contribute to the company's continued success."

Encik Abang Abdillah's appointment and his significant shareholding are expected to bring fresh momentum to Minetech, particularly in exploring new avenues for growth and strengthening the Company’s position in the industry.

As at 3^rd January 2024, 5:30 P.M., the share price of Minetech closed at RM0.175, signifying a market capitalisation of RM269.9 million.