Reference is made to ManagePay’s announcement on 8 March 2012 in relation to the MOU for the setting up of a two-way China-Malaysia e-commerce platform.
The Board of Directors of ManagePay wishes to inform that save for exchanging of technical information, there has been no development on the MOU since the last announcement on 8 March 2012. 

The Company will provide an update if there is any further material development in respect of the MOU.

This announcement is dated 23 May 2012.