News

Reference is made to the First Announcement made on 29 January 2021 and the subsequent monthly announcements made in relation to the Company being classified as an Affected Listed Issuer pursuant to Paragraph 8.03A 2(a)(aa) of Main Market Listing Requirements ("Listing Requirements") of Bursa Malaysia Securities Berhad (“Bursa Securities”) as well as the announcements dated 12 January 2023, 13 February 2023 and 21 July 2023 in relation to the application for extension of time for the Company to submit a regularisation plan to Bursa Securities (collectively referred to as the "Announcements").

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

The Board wishes to announce that after taking into consideration the relevant facts and circumstances,

Bursa Securities has vide its letter dated 16 August 2023 decided to reject the Company’s application for extension of time to submit the regularisation plan to the regulatory authorities (“Application”) as the Company has not demonstrated to the satisfaction of Bursa Securities any material development towards the finalisation and submission of the regularisation plan to the regulatory authorities. Bursa Securities has also issued a notice to show cause dated 16 August 2023 on suspension and de-listing of securities of the Company from the Official List of Bursa Securities (“Notice”), informing the Company to furnish Bursa Securities with the Company’s representations, on or before 23 August 2023 (i.e. 5 market days from the date of the Notice), as to:

a) why a suspension should not be imposed on the trading of the securities of the Company; and

b) why the securities of the Company should not be de-listed from the Official List of Bursa Securities.

Further announcement(s) will be made to Bursa Securities immediately upon any development/update in respect of the above.

This announcement is dated 16 August 2023.