Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") ("Listing Requirements"), Kinsteel Bhd ("In Liquidation") ("Kinsteel" or "the Company") hereby announce that Messrs Baker Tilly Monteiro Heng PLT, the Company's External Auditors, had expressed a disclaimer of opinion in their Independent Auditors’ Report ("Auditors' Report") in the Company's Audited Financial Statements for the financial years ended 30 June 2018 and 30 June 2019.

(a) Key audit matter disclosed in the independent auditors’ report

     - A copy of the Auditors’ Report are attached herewith.

(b) Steps taken or proposed to be taken to address those key audit matters that relate to the modified opinion or material uncertainty related to going concern; and

(c) The timeline for the steps referred to in sub-paragraph (b) above.

On 26 December 2019, the Company had submitted an application for extension of time up to 30 April 2020 to submit its regularisation plan to Bursa Malaysia Securities Berhad (“Bursa Securities”) and is currently pending for the approval by Bursa Securities.

This announcement is dated 30 January 2020.

Please refer attachments below.