Dear Shareholders and Stakeholders,

It is with great pride that I present the performance highlights of A Rock Coral Reefs Berhad (“ARock”) for the financial years ended June 30, 2024 (“FY2024”). I am delighted to report that our resort has not only recovered from the challenges of the pandemic but has also achieved record-breaking growth, setting a strong foundation for our future transformation.

FY2023 marked an exceptional year for A Rock, with revenue increasing by RM2.2 million (135% growth) to reach RM3.86 million, driven by the resurgence of Malaysia's tourism sector. In FY2024, we maintained this positive momentum with stable revenue of RM3.73 million, demonstrating our ability to perform consistently in a competitive market.

2023 was more than a year of financial recovery—it marked the start of an ambitious transformation. Under the leadership of our management team, we embarked on a comprehensive rebranding and restructuring journey. Following meticulous planning throughout 2024, we are now proud to unveil AMORI — a bold, visionary roadmap to redefine our identity and strengthen our market presence.

A pivotal milestone in this evolution will be the renaming of A Rock Resort to A Coral Reefs Resort in mid-2025.

At the meantime, with our corporate transformation, the equity structure of A Coral Reefs Resort will undergo corresponding changes. We will introduce an "NFT Framework" mid-year, allowing existing shareholders to decide whether to adopt the new equity structure based on their investment preferences and outlook for the company. A detailed explanation will be provided in the final section of this Handbook.

These accomplishments would not have been possible without the dedication of our remarkable team. Despite the challenges posed by the Movement Control Order (MCO), our employees remained steadfast in their commitment. From senior leadership to frontline staff, their tireless efforts have ensured operational excellence and outstanding guest satisfaction.

As we embark on this transformative journey, our focus remains on delivering sustainable growth and long-term value to our shareholders and stakeholders. The AMORI is not just a rebrand—it’s a promise to innovate, invest in our people, and exceed expectations in every facet of our operations.

Thank you for your trust and partnership. Together, we will shape a brighter future for A Coral Reefs Resort.