Item 8.01 Other Events.
As previously disclosed, on March
22, 2021, Malacca Straits Acquisition Company Limited (Nasdaq: MLACU, MLAC and MLACW), a special purpose acquisition company organized
under the laws of the Cayman Islands (“Malacca Straits”) entered into a definitive Business Combination Agreement (the
“Business Combination Agreement”), with PT Asia Vision Network, an Indonesian limited liability company (“AVN”)
and indirect 99.99% owned subsidiary of PT MNC Vision Networks TBK, an Indonesian public limited liability company.
On June 15, 2021, AVN issued
a press release announcing that it had submitted a confidential draft of a Registration Statement on Form F-4 to the U.S. Securities and
Exchange Commission (the “SEC”) with respect to the proposed business combination with Malacca Straits (the “Press
Release”). A copy of the Press Release is filed herewith as Exhibit 99.1 to this Current Report on Form 8-K.
Forward Looking Statements
This report contains, and
certain oral statements made by representatives of Malacca Straits and AVN and their respective affiliates, from time to time may contain,
“forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. Malacca Straits’ and AVN’s actual results may differ from their expectations, estimates and projections
and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,”
“plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,”
“potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without limitation, Malacca Straits’ and AVN’s expectations with respect
to future performance of AVN, anticipated financial impacts of the proposed transaction (the “Transaction”), the anticipated
addressable market for AVN, the satisfaction of the closing conditions to the Transaction, the pre-money valuation of AVN (which is subject
to certain inputs that may change prior to the closing of the Transaction and is subject to adjustment after the closing of the Transaction),
and the timing of the closing of the Transaction. These forward-looking statements involve significant risks and uncertainties that could
cause actual results to differ materially from expected results. Most of these factors are outside the control of Malacca Straits and
AVN and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event,
change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the inability to consummate
the Transaction, including due to failure to obtain approval of the shareholders of Malacca Straits or other conditions to the closing
in the Business Combination Agreement; (3) delays in obtaining or the inability to obtain any necessary regulatory approvals required
to complete the Transaction; (4) the inability to obtain the listing of AVN’s securities on Nasdaq following the Transaction; (5)
the risk that the Transaction disrupts current plans and operations as a result of the announcement and consummation of the Transaction;
(6) the ability to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the
ability of AVN to grow and manage growth economically and hire and retain key employees; (7) costs related to the Transaction; (8) changes
in applicable laws or regulations; (9) the effect of the COVID-19 pandemic on Malacca Straits or AVN and their ability to consummate the
Transaction; (10) the possibility that Malacca Straits or AVN may be adversely affected by other economic, business, and/or competitive
factors; and (11) other risks and uncertainties to be identified in the registration/proxy statement (when available) relating to the
Transaction, including those under “Risk Factors” therein, and in other filings with the SEC made by Malacca Straits or AVN.
Malacca Straits and AVN caution that the foregoing list of factors is not exclusive, and caution readers not to place undue reliance upon
any forward-looking statements, which speak only as of the date made. None of Malacca Straits or AVN undertakes or accepts any obligation
or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations
or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.
No Offer or Solicitation
This report is for informational
purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the Transaction
or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
No Assurances
There can be no assurance
that the Transaction will be completed, nor can there be any assurance, if the Transaction is completed, that the potential benefits of
combining the companies will be realized.
Information Sources; No
Representations
The Press Release has been
prepared for use by Malacca Straits and AVN in connection with the Transaction. The information therein does not purport to be all-inclusive.
The information therein is derived from various internal and external sources, with all information relating to the business, past performance,
results of operations and financial condition of Malacca Straits derived entirely from Malacca Straits and all information relating to
the business, past performance, results of operations and financial condition of AVN derived entirely from AVN. No representation is made
as to the reasonableness of the assumptions made with respect to the information therein, or to the accuracy or completeness of any projections
or modeling or any other information contained therein. Any data on past performance or modeling contained therein is not an indication
as to future performance.
No representations or warranties,
express or implied, are given in respect of the Press Release. To the fullest extent permitted by law in no circumstances will Malacca
Straits or AVN, or any of their respective subsidiaries, affiliates, shareholders, representatives, partners, directors, officers, employees,
advisors or agents, be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of
the Press Release, its contents (including without limitation any projections or models), any omissions, reliance on information contained
within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith, which information relating in
any way to the operations of AVN has been derived, directly or indirectly, exclusively from AVN and has not been independently verified
by Malacca Straits. Neither the independent auditors of Malacca Straits nor the independent auditors of or AVN audited, reviewed, compiled
or performed any procedures with respect to any projections or models for the purpose of their inclusion in the Press Release and, accordingly,
neither of them expressed any opinion or provided any other form of assurances with respect thereto for the purposes of the Press Release.
Important Information about
the Transaction and Where to Find It
In connection with the Transaction,
Malacca Straits and AVN will file relevant materials with the SEC, including a Form F-4 registration statement to be filed by AVN (the
“F-4”), which will include a prospectus with respect to AVN’s securities to be issued in connection with the proposed
business combination and a proxy statement (the “Proxy Statement”) with respect to Malacca Straits’ shareholder meeting
at which Malacca Straits’ shareholders will be asked to vote on the proposed Business Combination and related matters. MALACCA STRAITS’
SHAREHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ, WHEN AVAILABLE, THE F-4 AND THE AMENDMENTS THERETO AND OTHER INFORMATION
FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT MALACCA STRAITS, AVN
AND THE TRANSACTION. When available, the Proxy Statement contained in the F-4 and other relevant materials for the Transaction will be
mailed to shareholders of Malacca Straits as of a record date to be established for voting on the proposed business combination and related
matters. The preliminary F-4 and Proxy Statement, the final F-4 and definitive Proxy Statement and other relevant materials in connection
with the Transaction (when they become available), and any other documents filed by Malacca Straits with the SEC, may be obtained free
of charge at the SEC’s website (www.sec.gov) or by writing to Malacca Straits at Unit 601-2, St. George’s Building, 2 Ice
House Street, Central, Hong Kong. Information filed with the SEC is also available on the SEC’s website at www.sec.gov.
Participants in the Solicitation
Malacca Straits and AVN and
their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of
proxies from the holders of Malacca Straits ordinary shares in respect of the proposed business combination. Malacca Straits shareholders
and other interested persons may obtain more detailed information regarding the names and interests in the Transaction of Malacca Straits’
directors and officers in Malacca Straits’ and AVN’s filings with the SEC, including when filed, the F-4 and the Proxy Statement.
These documents can be obtained free of charge from the sources indicated above.