We refer to the Company’s announcements made on 6 July 2020, 8 July 2020, 10 July 2020, 13 July 2020, 15 July 2020, 16 July 2020, 17 July 2020, 24 July 2020 and 27 July 2020 in respect of Default in Payment to Creditor Banks.

The Board of Directors of the Company wishes to announce that the Company had on 7 August 2020 engaged Messrs Ranjit Singh & Yeoh with its current solicitor, Messrs Krish Maniam & Co. to commence legal proceedings for the recovery of sums based on the various cause of actions against London Biscuits Berhad (“LBB”) and a separate proceeding against the former common director of the Company and LBB respectively.

This engagement takes effect forthwith and on the advice of the Company’s solicitor in respect that the proceeding will be commenced no later than the end of August 2020. 

The Company will make the follow up announcement as the matter progresses.

This announcement is dated 7 August 2020.