Forise International Limited announced that Forise International (M) Sdn Bhd, a wholly- owned subsidiary of the Company, has entered into a new contract with a manufacturing company in Malaysia, for the provision of advisory and consultancy services in Malaysia, for a contract sum of RMB 500,000 on 14 December 2023. Under this contract, Forise International (M) Sdn Bhd will provide advice and support on the implementation of a latex product tumbler loading automation solution such as feasibility study, software and system design/consulting, hardware sourcing and integration advisory, operating procedures and post deployment testing consulting. Payments will be made by the Client as follows: 20% down payment upon signing the contract, 40% progress payment upon submission of feasibility study report and consultation reports, 30% progress payment upon integration, and the remaining 10% progress payment 60 days after the completion of testing and commissioning.

The project is expected to be completed by early April 2024, barring any unforeseen circumstances.