We refer to our announcements dated 31 May 2022 (“the First Announcement”), 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 1 November 2022, 1 December 2022, 3 January 2023, 2 February 2023, 1 March 2023, 30 March 2023, 3 April 2023, 2 May 2023, 19 May 2023, 1 June 2023, 13 June 2023, 3 July 2023, 1 August 2023, 1 September 2023, 7 September 2023, 2 October 2023, 1 November 2023, 1 December 2023, 2 January 2024, 2 February 2024, 1 March 2024, 1 April 2024, 2 May 2024 and 4 June 2024 (“Announcements”) in relation to the Company being classified as an affected listed issuer and the disclosure requirements under Paragraph 4.1(c) of PN17. Unless otherwise stated, all abbreviations and terms used in this announcement shall have the same meanings as those defined in the Announcements.

The Board of Directors of the Company (“Board”) wishes to provide a status update on the Company’s efforts to address its PN17 status. Since the First Announcement, the Company has been advancing its plan to regularise the financial position of its group of companies.

As announced on 6 June 2024, the High Court of Malaya at Kuala Lumpur had granted the Company and 22 of its wholly-owned subsidiaries an extension period of nine (9) months in respect of the Convening and Restraining Orders dated 7 March 2024, i.e. from 11 June 2024 to 10 March 2025, pursuant to Section 368(2) of the Companies Act 2016.

Subsequently, as announced on 10 June 2024, the Company had received a letter dated 7 June 2024 from the CDRC stating that the CDRC had extended the standstill period for the Company and its relevant subsidiaries under the CDRC regime, up to 10 March 2025.

Additionally, as announced on 1 July 2024, Bursa Securities had, through its letter dated 28 June 2024, granted the Company a further extension of time of 6 months up to 30 November 2024 to submit its Regularisation Plan (“Plan”) to the relevant regulatory authorities.

The Company, together with its advisors, will continue to actively develop the Plan to ensure that the Plan is sufficiently robust to address its business and financial conditions.

The Company will make the necessary announcement(s) should there be any further material development on the above matter.

This announcement is dated 1 July 2024.