Metronic Global Berhad provided update on the termination of MOA entered between the Company and Medigen Vaccine Biologics Corporation to obtain exclusive distribution rights for MVC's COVID-19 Vaccine. The Board of Directors of Metronic further clarifies that the deposit of $1.5 million was not paid to MVC within the agreed timeframe, as both the parties were of the opinion that it is not viable to proceed with the proposed distribution agreement based on the announcement made by Ministry of Health of Malaysia on 17 December 2020, that the government will purchase the COVID-19 vaccines directly from the suppliers.