MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 256 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 49. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D) (x) On 24 November 2021, the Company entered into a MOU with A Tech Insure Sdn. Bhd. (“A Tech”) to provide Malaysian civil servants with a platform to purchase motor vehicle takaful coverage together with road tax renewal by way of an interest-free Shariah compliant Qard loan facility that enables instalments payments via a salary deduction plan of up to 10 months. (y) On 24 November 2021, MYEGFT, a wholly-owned sub-subsidiary of the Company received a letter from Ministry of Housing and Local Government of Malaysia dated 10 November 2021, granting MYEGFT a renewal of the Moneylender’s License pursuant to the Moneylenders Act 1951. The license shall be valid for a period of 2 years effective from 15 January 2022 to 14 January 2024. (z) On 31 December 2021, MYEGC, a wholly-owned subsidiary of the Company entered into Share Sale Agreement with S7 Holdings Sdn. Bhd. (“S7”) for the purchase of 118,000,000 ordinary shares of S5 Holding Inc. (“S5”), representing 10% of the issued and paid-up share capital of S5 from S7 for a purchase consideration of RM86,500,000. 50. SIGNIFICANT EVENTS OCCURRING AFTER THE REPORTING PERIOD (a) On 19 January 2022, MYEGC, a wholly-owned subsidiary of the Company entered into a Supplemental Agreement to the Head of Agreement (“Supplemental HOA”) with S7, Merrington Asset Limited (“MAL”), Avocat Sdn. Bhd., Matrix Indeks Sdn. Bhd., Venstrait Sdn. Bhd., Ancom Logistics Berhad (“ALB”) and Ancom Berhad to vary the terms and conditions of the Head of Agreement (“HOA”) which previously entered by the respective parties that entails the proposed acquisition by ALB of the entire share capital of S5. (b) On 10 March 2022, NFTPT, a sub-subsidiary of the Company had launched NFT Pangolin, a global NonFungible Token (“NFT”) marketplace which supports the issuance and trading of NFT. NFT Pangolin will also operate on the soon to be launched Zetrix layer 1 blockchain network. (c) On 12 April 2022, the Company’s Zetrix blockchain has completed the foundation development for its layer 1 blockchain functionalities and it will launch its mainet on 15 April 2022. This marks the completion of phase 1 of Zetrix’s journey towards being a leading platform for decentralised applications, where industrial use cases like supply chain traceability and financing co-exist with the metaverse. 51. PRIOR YEAR ADJUSTMENT The Group have restated the carrying amount of property, plant and equipment of RM44,525,000 as at 31 December 2020 to development cost to comply with the recognition criteria of MFRS 138. The consolidated financial position for the financial year ended 31 December 2019 were not presented as the prior year adjustment has no impact to the opening balance as at 1 January 2020. The impact of the prior year adjustment to the statement of financial position, are as follows: The Group As Previously Reported As restated RM’000 RM’000 Statement of Financial Position (Extract):- Property, plant and equipment 330,823 286,298 Development cost 126,733 171,258
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