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, 1st June 2020, 1st July 2020, 3rd August 2020, 1st September 2020, 1st October 2020 and 2nd  November 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 announcements dated 2nd November 2020, there is no material development on the status of its on-going regularisation plans. In view of the on-going Conditional Movement Control Order (“CMCO”), the Company is facing challenges in realising its regularisation plan in near term.

The Company has approximately 9 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 December 2020.