We refer to the above-mentioned article which appeared in The Malaysian Reserve on 10 March 2026 under “Claims of corporate pressure and disruptions”.

NexG Bina Berhad (“NexG Bina” or “the Company”) wishes to announce that, 16 bank accounts of the Company and its subsidiaries maintained with RHB Bank Berhad have been frozen since mid November 2025 by Polis Diraja Malaysia, Pasukan Siasatan Jenayah Pengubahan Wang Haram (AMLA).

The Company did not receive any formal freezing order and only became aware of the situation after it was unable to proceed with certain operating payments.

The Board is not aware of any wrongdoing and has been seeking clarification from the authorities on the issue. To date, the Company has not been informed of any specific findings or particulars relating to alleged non-compliance or illegal money laundering activities involving the Company. The bank statements of all the affected accounts have been submitted to the relevant authorities, and to date no further inquiries have been initiated nor have any additional documents been requested. The Company strongly believes that it complies and adheres to all applicable regulatory and governance standards, including Bursa Malaysia Listing Requirements, financial reporting obligations and statutory compliance frameworks.

At the material time, the Company was initially unable to ascertain the authority responsible for the freezing of the accounts or the basis for such action. The Company therefore undertook efforts to obtain clarification from the relevant financial institutions and authorities

The Company has submitted multiple formal written appeals to the relevant authorities requesting consideration for the unfreezing or at minimum a structured and conditional operational release of the affected accounts. As at the date of this announcement, no formal response has been received.

At the last Board meeting in February 2026, the Board was informed of the freezing and there was no operational impact on the Group’s operations at that juncture. Accordingly, no material circumstances had arisen that warranted an announcement at that time. However, the Board expects that the continuation of the said freezing order may have an impact on the financial and operational aspects of the Group.

At this stage, the Board is unable to ascertain the full financial and operational impact and the Company may be exposed to potential lawsuits and claims for breach of contract if the Company does not have sufficient funds to make payment and fulfil its ongoing commitments. The Company may also be unable to proceed with ongoing development projects which require a bigger quantum of funds. The Company is currently making its best efforts to ensure the current collections from its manufacturing division is able to serve the Group’s fixed expenditures and its manufacturing overheads. 

At this juncture, the Company is seeking legal advice on the courses of actions that can be taken.

The Board further confirms that the Group remains committed to maintaining high standards of corporate governance, internal controls and compliance with all applicable laws and regulations, and will continue to enhance its compliance framework where necessary.

The Company will make the necessary announcements to Bursa as and when there are further developments on the matter.

This announcement is dated 10 March 2026.