Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcements dated as follows:

1.         17 October 2019 in relation to the default in payment to AFFIN Hwang Investment Bank Berhad;
2.         11 February 2020 in relation to the default in payment to Affin Islamic Bank Berhad; and
3.         28 February 2020 in relation to the cross default in payment to CIMB Bank Berhad.

With reference to the Company’s announcements made on the following dates:

1.         17 October 2019, 18 November 2019, 18 December 2019, 17 January 2020, 28 January 2020 and 11 February 2020 in relation to the default in payment of the syndicated term loan facility to the lenders by ATP;
2.         11 February 2020 and 12 February 2020 in relation to the default in payment of the Musharakah Mutanaqisah Term Financing-i and Tawarruq Revolving Credit-i to AIBB by PCB; and
3.         28 February 2020 and 2 March 2020 in relation to the cross default in payment of the Revolving Credit to CIMB by PCB,

on behalf of the Board of Directors of the Company, we wish to inform that there is no development on the status of the aforesaid default in payment as at the date of this announcement.  The Company is in the midst of developing the regularisation plan to regularise its financial condition.

The Company will make the necessary announcement on the current status of the default in payment as part of the monthly announcement pursuant to Practice Note 17 of the Listing Requirements in the future.

This announcement is dated 10 March 2020.