We refer to the previous monthly announcements in relation to the Company being classified as an affected listed issuer pursuant to Practice Note 17 (“PN17”) of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”).

The Board of Directors of the Company (“Board”) wishes to inform that the Company is still in the midst of formulating its regularisation plan. Towards this, in addition to the appointment of the respective advisers as announced on 2 December 2019, the Company had appointed Messrs. Baker Tilly Monteiro Heng as the reporting accountants.

The Board also wishes to inform that the Company had on 20 December 2019, entered into a Heads of Agreement (“HOA”) with MRI VC Berhad (formerly known as UZ Catering Berhad) (“MRI”) to set out, amongst others, the basis of MRI’s participation in the fund-raising exercise forming part of the proposed regularisation plan of the Company. Please refer to the Company’s announcement on 20 December 2019 for further information on the HOA.

Save for the above, there were no other major developments subsequent to the previous monthly announcement announced on 2 December 2019 in relation to the Company’s regularisation plan. The Company has until 27 February 2020 to submit its regularisation plan to the relevant authorities for approval.

This announcement is dated 2 January 2020.