MESB Berhad(“MESB”) was incorporated in Malaysia on 28 March 1995 as a private limited company under the name of Penastead Sdn. Bhd. which was then changed to MESB Sdn Bhd and subsequently on 20 June 1995 changed to MESB Berhad, a public listed public company , is listed on the Main Market of Bursa Malaysia Securities Berhad and is principally involved in the business of Investment Holding. MESB is structured into 3 (three) business units based on its products and services provided:

• Retailing Division - involved in the trading of leather products, casual apparels and accessories;

• Recycling Division - involved waste recycling

• Investment Holding Division – involved in the Investment Holding.

The authorized share capital of MESB is RM100,000,000.00, divided into 100,000,000 ordinary shares of RM1.00 each. The issued share capital of MESB is RM42,000,000.00 ordinary shares of RM1.00 each.

MESB’s operations commenced under its former subsidiary of Maintenance Engineering Sdn Bhd in 1971 as a trading company, involved in engineering and supplies business. Subsequently, MESB diversified its direction from trading to construction. Prior to the Group discontinuing the engineering and construction business, the Engineering Division’s range of services covered all facets of its business developments; from survey to detailed design, from material procurement to construction, from commissioning to maintenance and overall project management.

MESB via Maintenance Engineering Sdn Bhd and other former subsidiaries, namely Dynamic Communication Link Sdn Bhd and MESB Development Sdn Bhd have successfully executed over RM800million worth of contracts. A total of approximately 3,500km of overhead transmission lines from 33kV up to 500kV have been commissioned and erected a total of 1,000 units of transmission towers and 50 base stations in state of Melaka

To mitigate its reliance on the Engineering and Construction business, MESB has to diversify into the retailing business, particularly in the areas of mass retailing of high quality fashion leather products and via acquisition of Miroza Leather (M) Sdn Bhd(“MIROZA”) on 16 July 2004.

MIROZA is principally involved in business activities relating to retail industry, particularly in the area of retailing high quality leather products through 580 (five hundred eighty) consignment counters in departmental stores and 4 (four) boutiques in shopping malls in Malaysia under several distinct brands: Alain Delon, Pierre Cardin, Giossardi and Giamax. In addition, Miroza has also established its In-house brands, namely Giossardi and Giamax.

On 11 July 2005, MESB has expanded its retailing business into marketing of quality men’s wear through acquisition of A.D. Trends Sdn Bhd (”ADTSB”).

ADTSB had signed exclusive distributorship agreements with PF1 International Limited(“PF1IL”), a Hong Kong based licensed manufacturer and owner of Alain Delon trade mark, where ADTSB is granted the rights to distribute men’s wear under the Alain Delon brand name in Malaysia. Apart from Alain Delon, Pierre Balmain and bods, bodynits are the other major brands sold at some of the boutiques and outlets.

Since commencement of ADTSB’s operations in MESB Group, ADTSB grew from an annual turnover of less than RM17 million to an annual turnover of more than RM30 million.

After disposed of its equity in ADTSB by MESB on 5 January 2010, MESB had acquired a new subsidiary company, namely Active Fit Sdn Bhd (“AFSB”) on 15 October 2015, the principal activity of AFSB is engaged in brand building, concept development, fashion designing, sourcing, marketing, distribution and retailing of casual apparels and accessories.

Crystal United Sdn Bhd, a dormant subsidiary of the Company, had on 15 June 2020 applied to the Companies Commission o Malaysia (“CCM”), for striking its name off from CCM pursuant to Section 550 of the Companies Act 2016.

MESB Resources Sdn Bhd (“MRSB)”) was incorporated on 5 February 2021. MRSB includes collecting, sorting, recycling and distribution of scrap and waste materials, such as wastepaper, plastics scrap and scrap ferrous metal. The sorted and recycled materials are distributed to plastic resin and paper manufacturers as well a other larger second hand scrap dealers.

MESB also owned a semi-active subsidiary namely, MESB Capital & Development Sdn Bhd. This company is principally involved in investment holding business.

The board is of the view and opportunity for the Company to unlock and realise part of its investment in the Retailing Segments and decide to expand into the Recycling Business with the aim to bolster earning stream and market share in such business segment following the business diversification sought by MESB.

On 16 June 2023, MESB had disposed the retailing segment which included 45% of Miroza Leather (M) Sdn Bhd and 100% of Active Fit Sdn Bhd. Furthermore, the semi-active subsidiary, MESB Capital & Development Sdn Bhd had disposed 100% on the same date. Meanwhile, MESB had acquired 3 (three) new subsidiaries which included N.U. Recycle Sdn Bhd (“NUR”), Waier Trading Sdn Bhd (“Waier”) and Formidex Sdn Bhd (“Formidex”). The principal activity of NUR is involved in the provision of slitting service and trim waste sales. Whereas, Waier & Formidex’s principal activity mainly involve recycling materials.