The Board of Directors of PinePac (“Board”) refers to the announcements dated 3rd September 2019, 3rd October 2019, 1st November 2019, 3rd December 2019, 3rd January 2020,  3rd February 2020, 3rd March 2020, 2nd April 2020, 4th May 2020 and 1st June 2020 in relation to the Company being classified as an affected listed issuer pursuant to Paragraph 8.03A(2) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad.

The Board wishes to inform that subsequent to our announcement dated 1st June 2020, there is no material development on the status of its on-going regularisation plans. The Board however, is cognizant of the challenges posed by the Covid-19 pandemic on it’s on –going regularization plans in the near term.

The Company has approximately 14 months until 3rd September 2021 to submit a regularisation plan to the relevant authorities for approval and will make further announcements in relation to any latest development in accordance with the requirements under Paragraph 8.03A of the MMLR.

This announcement is dated 1st July 2020.