Update in relation to Sincere Acres Sdn Bhd

MobilityOne Limited

22 December 2025

 

22 December 2025

MobilityOne Limited

("MobilityOne", the "Company" or the "Group")

Update in relation to Sincere Acres Sdn Bhd

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, provides the following update in relation to the Group's 49% owned associate company, Sincere Acres Sdn Bhd ("Sincere"), and its wholly owned subsidiary, Hati International Sdn Bhd ("Hati"), a healthcare information systems provider in Malaysia. MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly owned operating subsidiary in Malaysia, completed the acquisition of the 49% equity interest in Sincere in October 2023 and the Company has since provided a number of updates on the settlement of the deferred consideration on the acquisition, most recently notified on 17 December 2025.

The board of directors of MobilityOne (the "Board") was informed on 17 December 2025 that Hati has been the subject of a winding up petition in Malaysia and that an order to wind up Hati was subsequently granted by the High Court in Malaysia on 5 December 2025. The Board understands that the winding up petition relates to outstanding loans made by three private individuals to Hati in 2021 that remain unpaid. These loans relate to a period of time prior to Hati becoming an associate company of M1 Malaysia.

On 18 December 2025 the solicitors representing Hati filed a notice of appeal to the Court of Appeal in Malaysia challenging the winding up order. In addition, Hati has instructed its solicitors to proceed with filing in the High Court in Malaysia a stay of execution of the winding up order pending the outcome of the appeal at the Court of Appeal in Malaysia.

Notwithstanding the litigation, as set out above, the Board understands that Hati's operations remain unaffected at this current time. MobilityOne and its operating subsidiaries are not subject to the litigation detailed above and the Group's core payments business in Malaysia is entirely unaffected by this matter.

A further announcement will be made at the appropriate time.

For further information, please contact:

MobilityOne Limited                                                                         [phone]

Dato' Hussian A. Rahman, CEO                                                        www.mobilityone.com.my

[e-mail]

Allenby Capital Limited

(Nominated Adviser and Broker)                                                        [phone]

Nick Athanas / Vivek Bhardwaj

About the Group:

MobilityOne is one of the leading virtual distributors of mobile prepaid reload and bill payment services in Malaysia. With connections to various service providers across industries such as banking, telecommunications, utilities, government agencies, and transportation, the Group operates through multiple distribution channels including mobile wallets, e-commerce sites, EDC terminals, automated teller machines, kiosks, and internet & mobile banking. Holding licenses in regulated spaces including acquiring, e-money, remittance and lending, the Group offers a range of services to the market, including wallet, internet, and terminal-based payment services, white label e-money, remittance, lending, and custom fintech ecosystems for communities. The Group's flexible, scalable technology platform enables cash, debit card, and credit card transactions from multiple devices while providing robust control and monitoring of product and service distribution.

For more information, refer to our website at www.mobilityone.com.my

 

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