Reference is made to the Company's announcement dated 16 April 2026 concerning the Petition presented against YNH Construction, a wholly-owned subsidiary of the Company by the LHDN. Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the previous announcements.
The Board of Directors of YNH wishes to announce that no winding-up order was made against YNH Construction at the hearing held on 16 July 2026. The High Court has fixed the matter for further hearing on 27 October 2026 pending the completion of the settlement arrangement between YNH Construction and LHDN.
Subsequent to the hearing, the Company continued its engagement with LHDN to finalise the revised settlement arrangement. On 23 July 2026, the Company received LHDN's formal written approval of the revised settlement arrangement.
Under the approved settlement arrangement:-
(a) the outstanding tax payable by YNH Construction amounts to RM5,155,601.09, which is scheduled to be fully settled by 10 September 2026; and
(b) LHDN has agreed to waive the tax increase imposed under Section 103 of the Income Tax Act 1967 amounting to RM1,709,463.68, subject to YNH Construction fully settling the outstanding tax liability in accordance with the approved settlement arrangement.
The Company had refrained from issuing a further announcement immediately after the hearing as the revised settlement arrangement remained subject to LHDN's final approval and formal written confirmation. Following receipt of LHDN's written confirmation on 23 July 2026, the Company verified the terms of the approved settlement arrangement. The Company considered that it would be more appropriate to provide shareholders with a comprehensive update following receipt of LHDN's formal written confirmation of the revised settlement arrangement.
The Company remains committed to completing the settlement in accordance with the approved payment schedule and will make further announcements on any material developments as and when necessary.
This announcement is dated 24 July 2026.