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 and 1 November 2023 (“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.

Whilst the Company, together with the appointed advisors are actively developing its Proposed Regularization Plan, more time is required to ensure the Plan is sufficiently robust to address its business and financial conditions. As announced on 30 October 2023, MIDF Amanah Investment Bank Berhad (“MIDF Investment”), on behalf of the Board, had submitted an application to Bursa Securities to seek for an additional 6-month extension, stretching from 30 November 2023 to 31 May 2024, to submit the  Company’s regularisation plan ("Second Extension Application"). The application is currently pending decision by Bursa Securities.

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

This announcement is dated 1 December 2023.