【CUSCAPI 0051 交流专区】客凯易

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2018	31 Mar 2017	31 Mar 2018	31 Mar 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	6,679	6,645	6,679	6,645
2	Profit/(loss) before tax	-4,381	-4,520	-4,381	-4,520
3	Profit/(loss) for the period	-4,381	-4,520	-4,381	-4,520
4	Profit/(loss) attributable to ordinary equity holders of the parent	-4,381	-4,520	-4,381	-4,520
5	Basic earnings/(loss) per share (Subunit)	-0.79	-1.04	-0.79	-1.04
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.1600		0.0400

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Date of change	04 Jun 2018
Name	DATUK MOHD JIMMY WONG BIN ABDULLAH
Age	56
Gender	Male
Nationality	Malaysia
Designation	Chairman
Directorate	Executive
Type of change	Resignation
Reason	Due to personal matter

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Date of change	04 Jun 2018
Name	DATUK JAYAKUMAR A/L PANNEER SELVAM
Age	52
Gender	Male
Nationality	Malaysia
Designation	Executive Chairman
Directorate	Executive
Type of change	Appointment
Qualifications	Diploma in Computer Science
Working experience and occupation	Datuk Jayakumar started his career with Kumpulan Wang Simpanan Pekerja in 1989 and subsequently moved to Arab Malaysia Finance Bank in 1990 for about two (2) years. His career in IT began with PDX Teknologi Sdn. Bhd. as the Major Accounts Executive in 1992. He was subsequently appointed as the Executive Director of PDX.com Sdn. Bhd. in 2004 and was instrumental in PDX.com Sdn. Bhd. securing the MSC Electronic Government Flagship Application (eServices Project) and being appointed the official Gateway Provider of the Government in 2000. In 2009, he was appointed as a Chief Executive Officer/Executive Director of PDX.com Sdn. Bhd. He has leveraged on his long experience in the IT industry and has ventured into investing in IT related companies.Datuk Jayakumar was appointed as the Managing Director of MY E.G Integrated Networks Sdn. Bhd. (MINT) in 2009, was integral in the development and operation strategies of MINT. His experience includes the development of its suite of electronic cash register (ECR) while working with Point of Sales solution vendors. These solutions include, among others, a comprehensive suite of online GST accounting tools, tax declaration and electronic information systems (EIS).
Directorships in public companies and listed issuers (if any)	Nil
Family relationship with any director and/or major shareholder of the listed issuer	Nil
Any conflict of interests that he/she has with the listed issuer	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest: 20,205,000 ordinary sharesIndirect Interest: 133,000,000 ordinary sharesIndirect interest by virtue of interest in Ultimate Quality Success Sdn. Bhd. and Rosetta Partners Sdn. Bhd. pursuant to Section 8 of the Companies Act 2016.

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Date of change	19 Jun 2018
Name	DATO' SRI KHAZALI BIN HAJI AHMAD
Age	62
Gender	Male
Nationality	Malaysia
Designation	Alternate Director
Directorate	Executive
Type of change	Appointment
Qualifications	Dato' Sri Khazali Bin Haji Ahmad ("Dato' Sri Khazali") graduated with a Bachelor of Economics degree from University Kebangsaan Malaysia in 1980 and obtained a Diploma in Public Administration from Institute Tadbiran Awam Malaysia (INTAN) in 1981. He received a Masters Degree in Economics from the University of Central Oklahoma, USA in 1991.
Working experience and occupation	Dato' Sri Khazali was the recipient of the Excellence Service Awards in 2003 and 2006 by the Ministry of Finance. He was also awarded the Asia Tax Commissioner of The Year 2015 for his excellent leadership in the Royal Malaysian Customs (Customs), particularly in the implementation of Goods and Services Tax. Dato' Sri Khazali bin Haji Ahmad began his career as Assistant Director in the Public Service Department Malaysia in 1981. He was subsequently posted to International Trade Division of the Ministry of International Trade and Industry (MITI) where he held various positions before he was transferred to Tax Analysis Division under the Ministry of Finance in 1997 and became Section Chief in the Division from 2005 to 2007. Between 2007 and 2008, he served as Special Functions Officer to the Chief Secretary to the Government in the Prime Ministers Department. In early 2009, Dato' Sri Khazali was appointed Deputy Director General of Customs. His last held position before his retirement in 2017 was Director General of Customs.
Directorships in public companies and listed issuers (if any)	1. Malaysian Venture Capital Management Berhad2. Bank Islam Malaysia Berhad3. Shangrila-La Hotels (Malaysia) Berhad4. Favelle Favco Berhad5. Muhibbah Engineering (M) Bhd

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Type	Announcement
Subject	OTHERS
Description	CUSCAPI BERHAD (CUSCAPI or the Company) Incorporation of new wholly-owned subsidiary
The Board of Directors of Cuscapi Berhad (“Cuscapi” or “the Company”) wishes to announce that the Company had on 25 July 2018 incorporated a new wholly-owned subsidiary, namely CUSCAPI BLOCKCHAIN SDN BHD (Company No. 1288743-M) (“CBSB”) in Malaysia. As of the date of this announcement, the issued share capital of CBSB is RM100.00 divided into 100 ordinary shares. Subsequent to the incorporation, Cuscapi intended to increase the issued share capital of CBSB to RM3,000,000 for its working capital purpose. The intended and primary business activity of CBSB is to operate a cryptocurrency exchange in Philippines upon obtaining a license issued by Cagayan Economic Zone Authority (“CEZA”) and other IT related business. The incorporation of CBSB is not expected to have any material impact on the earnings per share, net assets per share, gearing and share capital and substantial shareholders’ shareholding of the Company for the financial year ending 31 December 2018. The incorporation of CBSB is not subject to the approval of the shareholders of the Company. None of the Directors and/or major shareholders of the Company and/or persons connected with Directors and/or major shareholders has any interest, direct or indirect, in the incorporation of CBSB. Having considered all aspects of the incorporation, the Board of Directors of the Company is of the opinion that the incorporation of CBSB is in the best interest of the Company. This announcement is dated 25 July 2018.

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Type	Announcement
Subject	OTHERS
Description	Material Claim Involving Cuscapi Berhad (Company No. 43190-H) and Cuscapi Malaysia Sdn Bhd (Company No. 520415-W)
The Board of Directors of Cuscapi Berhad (“Company”) wishes to announce that the Company and its wholly-owned subsidiary, Cuscapi Malaysia Sdn Bhd (“Cuscapi Malaysia”) had respectively received letters of demand dated 23 July 2018 from Viknesh & Yap, solicitors acting for Hitachi Systems Digital Services (Singapore) Pte Ltd (“Hitachi”). Hitachi claims that Cuscapi Malaysia had failed, neglected, refused and/or defaulted in making requisite payments pursuant to an agreement for the purchase of Rev Hardware Equipment dated 23 September 2016, and that Hitachi is therefore demanding that Cuscapi Malaysia pays a sum of USD3,600,248.22 and legal cost for the notice, failing which legal proceedings can be instituted against Cuscapi Malaysia. Hitachi also claims that the Company is liable to pay the sum which is due and payable by Cuscapi Malaysia pursuant to a deed of corporate guarantee dated 26 September 2016, failing which legal proceedings can be instituted against the Company. The Company and Cuscapi Malaysia are seeking for legal advice in respect of this matter. The Company and Cuscapi Malaysia believe that they have good grounds to defend and contest against Hitachi’s claim. The Company will make the necessary announcement on material development of this matter in due course. This announcement is dated 25 July 2018.

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2018	30 Jun 2017	30 Jun 2018	30 Jun 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	7,698	9,096	14,377	15,740
2	Profit/(loss) before tax	-2,971	-4,830	-7,352	-9,350
3	Profit/(loss) for the period	-2,971	-4,830	-7,352	-9,349
4	Profit/(loss) attributable to ordinary equity holders of the parent	-2,971	-4,830	-7,352	-9,349
5	Basic earnings/(loss) per share (Subunit)	-0.36	-1.01	-1.06	-2.04
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.1300		0.0400

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Date of change	18 Sep 2018
Name	MR ANTHONY GERALD A/L R.VICTOR
Age	48
Gender	Male
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Executive Officer
Qualifications	Master of Business Management as well as a Diploma in IT and Diploma in Business Management
Working experience and occupation	Mr. Anthony has more than 20 years of work experience as Director/Manager in the application of information technology and business solutions across retail, hospitality, automotive, telecommunications, financial as well as public services sectors. His past positions were as follows:-1) Wincor Nixdorf Malaysia (2011-2018)     -Sales Director2) SAP Malaysia (2007-2011)     -Regional Senior Territory Sales Manager3) Malaysia Retail Division, Wincor Nixdorf (2000-2007)    -Business Unit Manager4) Mines Resort  (1997-2000)      -F&B Director5) Delifrance (1996-1997)   -Senior Area Manager 6) Shakeys Pizza (1988-1996)   -Store manager

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Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	PROPOSED ACQUISITION OF COMMERCIAL SPACE AT MYEG TOWER, EMPIRE CITY
Please refer to attachment.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5939621

Attachments Cuscapi-Acquisition of Commercial Space.pdf

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Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-15102018-00002
Subject	PROPOSED ACQUISITION OF COMMERCIAL SPACE AT MYEG TOWER, EMPIRE CITY
Description	PROPOSED ACQUISITION OF COMMERCIAL SPACE AT MYEG TOWER, EMPIRE CITY
Query Letter Contents	We refer to your Company’s announcement dated 11 October 2018, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1.        The exercise period of the Put Option Agreement. 2.        The basis of the consideration of the Commercial Space pursuant to the Put Option Agreement. 3.        The tenure of the land on which MYEG Tower is erected. If leasehold, the expiry date of the lease. 4.        Whether any valuation was carried out on the Commercial Space, if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value.
Further to the Company’s announcement dated 11 October 2018 and Bursa Malaysia Securities Berhad’s query letter dated 15 October 2018 bearing reference no. IQL-15102018-00002, the Company wishes to announce the following additional information:- 1)           The exercise period of the Put Option Agreement is 6 months subsequent to the date of delivery of vacant possession of the Commercial Space. The date of delivery of vacant possession of the Commercial Space is expected to be 18 months from the date of the SPA. 2)           The basis of the consideration of the Commercial Space pursuant to the Put Option Agreement is based on the willing buyer willing seller after taken into consideration the forced sale value in the valuation report and that only Cuscapi has the option to exercise the Put Option Agreement. 3)           The tenure of the land on which MYEG Tower is erected is Leasehold interest for a term of 99 years, expiring on 8 June 2104. 4)           The valuation was carried out by Knight Frank Malaysia Sdn Bhd (Company No. 585479-A) on the 16th August 2018. The valuation was undertaken using appropriate valuation methodology and professional judgement. In arriving at valuer’s opinion of the market value of the subject property, the valuer had adopted the following investment methods:- a) Comparison Approach This approach considers the sales of similar or substitute properties and related market data, and establishes a value estimate by adjustments made for differences in factors that affect value. In general, a property being valued (subject property) is compared with sales of similar properties that have been transacted in the open market. Listings and offers may also be considered. b) Income Approach This approach involves capitalization of the net annual income stream that is expected to be received from the property after deducting the annual outgoings and other operating expenses incidental to the property with allowance for void by using an appropriate market derived capitalization rate. The average market value is approximately at RM601psf and based on the following basis:- 1) On the basis and assumption that the stratified parcel and accessory parcels (if any) attached thereto together with all fixtures and fittings along with all proposed designated common equipments and systems affixed and installed thereon are fully completed in good workmanship in accordance to the approved building plans; with all relevant fees (if any) fully paid and thereafter issued with certificate of completion and compliance (CCC). 2) That the designated stratified parcel and accessory parcels (if any) will be suitably fitted with building specifications to commensurate to the proposed standard and rating in accordance to the approved building plans and/or proposed design concept plan. 3) That strata title(s) together with accessory parcels (if any) attached thereto conveying leasehold interest for a term of 99 years in respect of the subject property are forthcoming and when issued, will be free from all encumbrances and restrictive condition over the designated parcels and accessory area(s) stated therein. This announcement is dated 15 October 2018.

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客凯易1600万全购litaran-pasifik
http://www.enanyang.my/news/20181121/客凯易1600万全购litaran-pasifik/

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	CUSCAPI BERHAD (Company No.: 43190-H) (CUSCAPI OR COMPANY OR PURCHASER)PROPOSED SHARES ACQUISITION BY CUSCAPI OF THE ENTIRE EQUITY INTEREST IN LITAR PASIFIKA SDN BHD (LPASIFIKA), WHICH HOLDS A 20% EQUITY STAKE IN KONSORTIUM MULTIMEDIA SWASTA SDN. BHD (TARGET COMPANY), FROM LITARAN PASIFIK SDN BHD (LPASIFIK) (THE VENDOR) FOR A TOTAL CASH CONSIDERATION OF RM16,000,000 (PROPOSED ACQUISITION)
Please refer to attachment.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5977533

Attachments Cuscapi- proposed acquisition.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2018	30 Sep 2017	30 Sep 2018	30 Sep 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	7,365	7,927	21,742	23,667
2	Profit/(loss) before tax	-4,916	-4,829	-12,268	-14,178
3	Profit/(loss) for the period	-4,916	-4,835	-12,268	-14,184
4	Profit/(loss) attributable to ordinary equity holders of the parent	-4,916	-4,835	-12,268	-14,184
5	Basic earnings/(loss) per share (Subunit)	-0.59	-1.01	-1.76	-3.10
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.1200		0.0400

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Type	Announcement
Subject	OTHERS
Description	CUSCAPI BERHAD ("CUSCAPI" OR "THE COMPANY")- INCORPORATION OF A WHOLLY-OWNED SUBSIDIARY
The Board of Directors of Cuscapi is pleased to announce that the Company had on 20 February 2019 incorporated a wholly-owned subsidiary known as CUSCAPI (BD) LTD (Company No.C-15026/2019) (“the Incorporation”) in the People’s Republic of Bangladesh (“Bangladesh”). CUSCAPI (BD) LTD was incorporated as a company limited by shares under the Companies Act (Act XVIII) of 1994 of Bangladesh with Authorized Share Capital of TK. 100,000,000 (Ten Crore) divided into 1,000,000 (Ten Lac) Ordinary Shares of TK 100 (One Hundred) each. The paid-up capital of the company is BD TK. 4,150,000 representing 41,500 Shares (equivalent to USD50,000 or RM203,450.00). The intended principal activities of CUSCAPI (BD) LTD is to market its Point of Sales Solution in Bangladesh. The Company is of the view that there will be strong demand for its POS terminals in line with new initiatives by the Government of Bangladesh to digitise and reduce potential tax leakages. The Company expects Bangladesh to be one of the Company’s significant market in the coming years. None of the Directors and/or Major Shareholders of the Cuscapi Bhd and/or persons connected with Directors and/or Major Shareholders has any interest, direct or indirect, in the Incorporation. The Board of Directors of the Company is of the opinion that the Incorporation is in the best interest of Cuscapi Group. This announcement is dated 21 February 2019.

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2018	31 Dec 2017	31 Dec 2018	31 Dec 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	7,498	9,607	29,240	33,275
2	Profit/(loss) before tax	-8,985	-10,615	-21,253	-24,793
3	Profit/(loss) for the period	-9,612	-10,377	-21,881	-24,561
4	Profit/(loss) attributable to ordinary equity holders of the parent	-9,612	-10,377	-21,881	-24,561
5	Basic earnings/(loss) per share (Subunit)	-1.15	-2.12	-3.15	-5.21
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.1200		0.0400

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Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	CUSCAPI BERHAD (Company No.: 43190-H) (CUSCAPI OR COMPANY OR PURCHASER) BUSINESS TRANSFER AGREEMENT BETWEEN CUSCAPI INTERACTIVE SOLUTIONS SDN BHD (CIS or PURCHASER), AMPLIFY ME PTE. LTD. (AMPLIFY) AND SHAUN LEE HONG WEI (SLHW)
Please refer to attachment.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6104289

Attachments Cuscapi-Business Transfer.pdf

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Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-26032019-00002
Subject	BUSINESS TRANSFER AGREEMENT BETWEEN CUSCAPI INTERACTIVE SOLUTIONS SDN BHD (CIS or PURCHASER), AMPLIFY ME PTE. LTD. (AMPLIFY) AND SHAUN LEE HONG WEI (SLHW) ("BUSINESS")
Description	CUSCAPI BERHAD (COMPANY NO.: 43190-H) (CUSCAPI OR COMPANY OR PURCHASER) BUSINESS TRANSFER AGREEMENT BETWEEN CUSCAPI INTERACTIVE SOLUTIONS SDN BHD (CIS or PURCHASER), AMPLIFY ME PTE. LTD. (AMPLIFY) AND SHAUN LEE HONG WEI (SLHW)
Query Letter Contents	We refer to your Company’s announcement dated 25 March 2019, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1.        The description of the ServedByAlfred Business Records, ServedByAlfred Business Information, and Relevant Contracts. 2.        The number of employees in the Business, and their designations. 3.        The net profits attributable to the Business and net assets of the Business. 4.        The definition of "Settlement Agreement". 5.        The date of payment of the BTA Sum - First Tranche and Pre-Agreement Sum. 6.        The breakdown of the sources of funding between proceeds from the placement exercise and working capital. 7.         The amount and details of the financial commitments to be assumed relating to the Proposed Business Transfer.
Further to the Company’s announcement dated 25 March 2019 and Bursa Malaysia Securities Berhad’s query letter dated 26 March 2019 bearing reference no. IQL-26032019-00002, the Company wishes to announce the following additional information:- 1. The description of the ServedByAlfred Business Records, ServedByAlfred Business Information, and Relevant Contracts     The descriptions are as follow:- ServedByAlfred Business Records: means all books and records in whatever form, physical and virtual, containing or relating to the Business or on which such information is recorded or stored. ServedByAlfred Business Information: means all information existing at and preceding the Completion Date relating to the Business, including the ServedByAlfred IT Systems, details of customers, suppliers, distributors and agents, sales targets, sales statistics, market share statistics, market surveys and information relating to future business development or planning, information relating to discounts, commissions and rebates received and/or paid, all proprietary industrial and commercial information and techniques in whatever form held, in each case only to the extent existing in relation to the Business, in a format allowing such information to be easily assessed and managed by the Purchaser Relevant Contracts: means the Customer Contracts and Service Provider Contracts 2. The number of employees in the Business, and their designations.     There are three (3) staffs in the Business ‘s payroll, ie Shaun Lee HongWei, Director/Founder Tan Carlyn, Product Specialist Koh Jing Ting, Product Specialist 3. The net profit attributable to the Business and net assets of the Business.     The Business’s net loss and net liabilities for the year ended 31 August 2017 are stood at SGD250,949 and SGD 658,261 respectively. 4. The definition of "Settlement Agreement".     The Settlement Agreement referred to is an agreement between Amplify, Octava and the director of Amplify to clear off the charges placed on Business pursuant to a loan given by Octava to Amplify. 5. The date of payment of the BTA Sum - First Tranche and Pre-Agreement Sum.     The date of payment the BTA Sum - First Tranche and Pre- Agreement Sum will be on 25 March 2019. 6. The breakdown of the sources of funding between proceeds from the placement exercise and working capital.     The sources of funding will be approximately RM3.5mil from placement exercise and balance from the working capital of the Group. 7. The amount and details of the financial commitments to be assumed relating to the Proposed Business Transfer     There are no financial commitments to be assumed relating to the Proposed Business Transfer except the incidental legal cost. This announcement is dated 27 March 2019.

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Type	Announcement
Subject	AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN QUALIFIED OPINION
Description	CUSCAPI BERHAD ("CUSCAPI" OR "THE COMPANY")QUALIFIED OPINION ON THE AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Cuscapi Berhad (“Cuscapi” or “the Company”) wishes to announce that the Company’s External Auditors, Messrs. Baker Tilly Monteiro Heng PLT had expressed the following qualified opinion in the Company’s Audited Financial Statements for the financial year ended 31 December 2018: A.    QUALIFIED OPINION The details of qualified opinion as disclosed in the Independent Auditors’ Report is reproduced below: Qualified Opinion We have audited the financial statements of Cuscapi Berhad, which comprise the statements of financial position as at 31 December 2018 of the Group and of the Company, and the statements of comprehensive income, statements of changes in equity and statements of cash flows of the Group and of the Company for the financial year then ended, and notes to the financial statements, including a summary of significant accounting policies, as set out on pages 8 to 119. In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying financial statements give a true and fair view of the financial position of the Group and of the Company as at 31 December 2018, and of their financial performance and cash flows for the financial year then ended in accordance with the Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. Basis for Qualified Opinion We draw your attention to Note 37(a) to the financial statements, that discloses the circumstances and consideration of the Directors in reporting the carrying amount of the REV hardware equipment included in Property, Plant and Equipment of RM6,615,101 and Inventories of RM15,451,976. We were unable to obtain sufficient appropriate audit evidence on the said amount of Property, Plant and Equipment and Inventories, as the Group is unable to reliably assess the recoverable amount of the said Property, Plant and Equipment in accordance with MFRS 136: Impairment of Assets and the net realisable values of the inventories in accordance with MFRS 102: Inventories due to the circumstances and consideration disclosed under Note 37(a) to the financial statements. Consequently, we were unable to determine whether any adjustments to these amounts were necessary. We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Group and of the Company in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. Please refer to the attachment as annexed herewith under Appendix I in respect of the Notes 37(a) of the audited financial statement for the year ended 31 December 2018. B.    STEPS TAKEN OR PROPOSED TO BE TAKEN TO ADDRESS THE KEY AUDIT MATTERS THAT RELATES TO THE MODIFIED OPINION The Directors of the Company will continue to monitor the legal suit (Suit No. WA-22NCC-399-09/2018) outcome closely and make necessary adjustment on the recoverable amount of the said Property, Plant and Equipment in accordance with MFRS 136: Impairment of Assets and the net realisable values of the inventories in accordance with MFRS 102: Inventories based on the Courts' decision once available. C.    TIMELINE Barring any unforeseen circumstances, the Group expects to resolve the issue relating to the Modified Opinion above within 12 months from the date of this announcement. D.    ALL KEY AUDIT MATTERS DISCLOSED IN THE EXTERNAL AUDITORS’ REPORT Please refer to the attachment as annexed herewith under Appendix II. This announcement is dated 30 April 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6147725

Attachments Appendix I.pdf Appendix II.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2019	31 Mar 2018	31 Mar 2019	31 Mar 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	7,244	6,679	7,244	6,679
2	Profit/(loss) before tax	93	-4,381	93	-4,381
3	Profit/(loss) for the period	93	-4,381	93	-4,381
4	Profit/(loss) attributable to ordinary equity holders of the parent	93	-4,381	93	-4,381
5	Basic earnings/(loss) per share (Subunit)	0.01	-0.79	0.01	-0.79
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.1100		0.1100

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CUSCAPI BERHAD

Date of change	09 Jul 2019
Name	MR TOE TEOW TECK
Age	48
Gender	Male
Nationality	Singapore
Designation	Executive Director
Directorate	Executive
Type of change	Resignation
Reason	Due to personal matter