We refer to the Company's following earlier announcements made in relation to the Company being classified as an affected listed issuer pursuant to PN17 of Listing Requirements:-
(i) first announcement dated 30 April 2023 ("First Announcement"); and
(ii) 30 May 2023, 30 June 2023, 31 July 2023, 28 August 2023, 29 September 2023, 31 October 2023, 30 November 2023, 29 December 2023, 30 January 2024, 29 February 2024, 29 March 2024, 29 April 2024, 2 May 2024, 5 June 2024, 28 June 2024, 30 July 2024, 30 August 2024, 30 September 2024, 25 October 2024, 29 October 2024, 18 November 2024, 28 November 2024, 27 December 2024, 28 January 2025, 25 February 2025, 28 February 2025, 21 March 2025, 2 April 2025, 17 April 2025, 30 April 2025, 2 May 2025, 3 June 2025, 1 July 2025, 1 August 2025, 2 September 2025, 1 October 2025, 3 October 2025, 15 October 2025, 31 October 2025, 3 November 2025, 1 December 2025, 4 December 2025, 2 January 2026, 6 January 2026, 13 January 2026, 30 January 2026, 3 February 2026, 10 February 2026, 13 February 2026, 26 February 2026, 2 March 2026, 27 March 2026, 1 April 2026, 20 April 2026, 21 April 2026, 28 April 2026, 29 April 2026 and 4 May 2026.
(collectively, referred to as the "Earlier Announcements").
Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall bear the same meaning as those defined in the Earlier Announcements.
On 20 April 2026, the Board had announced that the scheme of arrangement presented in the Zelan Berhad's court-convened creditors' meeting had been approved by the requisite majority in value of the creditors present and voting at the court-convened meeting, obtaining a 100.00% in value approval. The Company will next be filing the necessary application to seek for the Court's sanction of the proposed scheme of arrangement.
On 21 April 2026, on behalf of the Board, Malacca Securities announced that the Company had on 21 April 2026 submitted an extension of time application to Bursa Securities for the Company to submit the regularisation plan to the relevant regulatory authorities.
On 28 April 2026, on behalf of the Board, Malacca Securities had announced that the High Court had on 27 April 2026 fixed the next case management on 4 May 2026 for Zelan Holdings' Application. For information, the ad interim restraining order granted in favour of Zelan Holdings remains valid until the conclusion of Zelan Holdings' Application.
On 29 April 2026, the Board had announced that its wholly-owned subsidiary namely, Zelan Construction had on 29 April 2026 commenced creditors' voluntary liquidation. The Company will make the necessary announcements on any material development in relation to the above matter in due course. For information, Zelan Construction had filed a notice discontinuance of ZCSB's Application to the High Court on even date.
On 4 May 2026, on behalf of the Board, Malacca Securities announced that Zelan Holdings' application to withdraw the Application dated 2 October 2025 (as amended on 11 March 2026) was allowed by the High Court on 4 May 2026, with the matter struck out with liberty to file afresh and with costs. Accordingly, the ad interim restraining order granted in favour of Zelan Holdings dated 1 December 2025 has been discharged.
On behalf of the Board, Malacca Securities wishes to announce that the Company is still in the midst of formulating the regularisation plan.
Further announcements will be made to Bursa Securities with regard to the regularisation plan in due course.
This announcement is dated 4 May 2026.