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Article Entitled: VSTECS shares hit new record high on Amazon Web Services partnership

VSTECS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-10052024-00001
Subject Article Entitled: VSTECS shares hit new record high on Amazon Web Services partnership
Description
VSTECS Berhad

Article Entitled: VSTECS shares hit new record high on Amazon Web Services partnership
Query Letter Contents

We refer to the media article entitled “VSTECS shares hit new record high on Amazon Web Services partnership” appearing in the TheEdge CEO Morning Brief dated 10 May 2024, a copy of which is enclosed for you reference.

 

In particular, we would like to draw your attention to the underlined sentence(s) which are reproduced as follows:-

 

a) “On Wednesday, VSTECS announced to Bursa Malaysia that its wholly-owned subsidiary VSTECS Ku Sdn Bhd has been selected by Amazon Web Services (AWS) to provide highly scalable and cost-effective cloud services”.

 

b) "VSTECS said the services include computing, storage, databases, analytics, networking, and application services to enterprises in the private and public sectors in Malaysia."

 

In accordance with Bursa Malaysia Securities Berhad's ("Bursa Securities") Corporate Disclosure Policy, kindly furnish Bursa Securities with an announcement for public release confirming or denying the above reported article, in particular with respect to items (a) and (b) above after due and diligent enquiry with all the directors, major shareholders and all such other person reasonably familiar with the matters. In the event you deny the above reported sentence or any other part of the article, you are required to set forth facts sufficient to support the same.

 

Please furnish Bursa Securities with your reply via Bursa LINK by today.

 

 

Yours faithfully

 

 

Listing

Regulation

 

Cc : Market Surveillance Dept., Securities Commission 

The Company wish to inform that it have recently made a press release on “VSTECS Appointed as the first Amazon Web Services (AWS) Distributor in Malaysia” on 8 May 2024.

With reference to the media article entitled “VSTECS shares hit new record high on Amazon Web Services partnership” published in the TheEdge CEO Morning Brief dated 10 May 2024, the Company wish to clarify that VSTECS’ appointment as a distributor by international principals from time to time is in the ordinary course of our business as an ICT distributor. The revenue and profits from these distributor arrangements depend largely on our sales performance of the specific products or solutions covered under the distributorship arrangements, and not determined upfront during the appointment. We have informed The Edge on the inaccuracy of the sentence, requested an errata and the article has been amended.

With reference to the same article where it stated “VSTECS said the services include computing, storage, databases, analytics, networking, and application services to enterprises in the private and public sectors in Malaysia.”, the Company further confirmed that the services described are factual based on AWS’ suite of solutions, confirmed by AWS and disclosed in various public domains such as its websites.

The announcement is dated 10 May 2024.




Announcement Info

Company Name VSTECS BERHAD
Stock Name VSTECS
Date Announced 10 May 2024
Category General Announcement for PLC
Reference Number GA1-10052024-00072



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