Reference is made to the announcements made by the Company on 19 May 2020 and 17 August 2020 in relation to the High Court Order dated 19 May 2020 (“the 1st Order”) and the High Court Order dated 17 August 2020 (“the 2nd Order”) pursuant to Section 366 and 368(2) of the Companies Act 2016 (“the Act”).

The Board of Directors of Barakah wishes to announce that its wholly-owned subsidiary PBJV Group Sdn Bhd (“PBJV”) had on 13 November 2020 applied to the High Court of Malaya at Kuala Lumpur pursuant to Sections 366 and 368(2) of the Act and was on 17 November 2020 granted an extension of the 1st and 2nd Order for a further period of three (3) months. The extension of the Order shall commence from 18 November 2020 (“the 3rd Order”).

The 3rd Order was applied for as part of proactive measure by PBJV to manage the debt levels of PBJV and its related companies (“Barakah Group”) and the 3rd Order allows the Barakah Group to continue negotiating terms with its lenders and creditors and for these parties to secure necessary approvals without having the threat of any proceedings and actions being brought against PBJV.

The restraining order is not envisaged to have any material financial and operational impact to the Barakah Group.

Further development on the above matter will be announced to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 17 November 2020.