Reference is made to the utilisation of proceeds raised from the public issue under the initial public offering of the Company as disclosed in the Company's prospectus dated 20 June 2023 that was issued in conjunction with the listing of the Company on the Main Market of Bursa Malaysia Securities Berhad.

The Board of Directors of SkyWorld Development wishes to announce that the Company intends to undertake the Proposed Variation.

Further details on the Proposed Variation are set out in the attachment.

This announcement is dated 15 May 2024.

Please refer attachment below.