Reference is made to the announcements made by the Company on 19 May 2020, 17 August 2020 and 17 November 2020 in relation to the High Court Order dated 19 May 2020 (“the 1st Order”) pursuant to Sections 366 and 368 of the Companies Act 2016 (“the Act”), the High Court Order dated 17 August 2020 (“the 2nd Order”) pursuant to Sections 366 and 368(2) of the Act and the High Court Order dated 17 November 2020 (“the 3rd Order”) pursuant to Sections 366 and 368(2) of the Act (collectively referred to as “the Order”).

The Board of Directors of Barakah wishes to announce that its wholly-owned subsidiary, PBJV Group Sdn. Bhd. (“PBJV”) had on 10 February 2021 applied to the High Court of Malaya at Kuala Lumpur pursuant to Sections 366 and 368(2) of the Act for an extension of time of the Order and was granted an extension of the Order for a further period of three (3) months on 15 February 2021. The extension of the Order shall commence from 18 February 2021 and expire on 18 May 2021.

The 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 Order allows the Barakah Group to finalise terms with and present the proposed scheme to its lenders and creditors 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 15 February 2021.