Summary of Key Matters Discussed at 21st AGM (23 Nov 2018)

Key Matters Discussed at 21st AGM 

UCREST BERHAD (420056 K)

(Incorporated in Malaysia)

SUMMARY OF KEY MATTERS DISCUSSED AT THE TWENTY-FIRST ANNUAL GENERAL MEETING OF THE COMPANY HELD AT GREENS 1, GOLF WING, TROPICANA GOLF & COUNTRY RESORT, JALAN KELAB TROPICANA, 47410 PETALING JAYA, SELANGOR DARUL EHSAN, ON FRIDAY, 23 NOVEMBER 2018 AT 11.00 A.M.

There were no other matters raised by the shareholders at the Twenty-First Annual General Meeting, save for the following: -

Question:
Is the Group into cloud storage business?

Response:
The cloud storage was designed particularly for the Group’s healthcare business.

Question:
The Company should consider including the financial highlights, particularly financial information relating to the past five years’ performance of the Group, in the Annual Report.

Response:
It is not a practice of the Group to include such information as this will increase the cost of printing the Annual Report. However, Management will consider including such information in future Annual Reports.

Question:
What are the Company’s prospects? Other than Russia, what are the other countries that the Company plan to venture into?

Response:
Besides Russia, the Group has started exploring ventures in various countries. The online healthcare business has taken off faster in Russia than the other countries due to regulations relating to government insurance claims for online healthcare. The Group will continue exploring potentials for the online healthcare business in China in view of its growing market.

Currently, the Group has doctors from countries such as the United States of America, China, Taiwan, Singapore, Malaysia and Russia providing online healthcare services to their patients.

Question:
Is the Company considering applying for a transfer of the listing to Main Market of Bursa Malaysia Securities Berhad?

Response:
The Board shall deliberate on this matter when the relevant criteria are met.

Question:
Does the online system of the Company include Artificial Intelligence (“AI”)?

Response:
The Group’s i-Medic system includes AI, Block Chain, Big Data and Internet of Things.

Question:
There seems to be fewer announcements made relating to contracts entered into. Is this observation correct?

Response:
The announcements on contracts are made based on the materiality threshold pursuant to Rule 9.03 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.

Question:
Based on the Segmental Information (Geographical) on page 83 of the Annual Report, the Group has recorded revenue of approximately RM15 million from Singapore. What is the nature of the revenue?

Response:
The revenue was generated through the Group’s resellers and distributors in Singapore.

Question:
Why is cost of sales not reported in the first quarter results for the period ended 31 August 2018?

Response:
At the start of the contract, the hardware cost will be included and charged out. If the existing hardware is sufficient, the customer will not need to incur additional hardware cost. As such, there was no additional hardware cost recorded for the quarter ended 31 August 2018.