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, 27 July 2020, 7 August 2020, 12 August 2020, 25 August 2020, 26 August 2020, 28 August 2020, 10 September 2020, 18 September 2020, 21 September 2020, 24 September 2020, 28 September 2020, 30 September 2020, 7 October 2020, 8 October 2020, 13 October 2020, 19 October 2020, 21 October 2020, 22 October 2020, 30 October 2020, 10 November 2020, 11 November 2020, 16 November 2020, 18 November 2020, 20 November 2020, 24 November 2020, 3 December 2020, 8 December 2020, 11 December 2020, 24 December 2020, 5 January 2021, 19 January 2021, 21 January 2021, 25 January 2021, 26 January 2021, 8 February 2021, 9 February 2021 and 19 February 2021 in respect of Default in Payment to Creditor Banks and with reference to the Company’s announcements made on 16 July 2020, 7 August 2020, 21 September 2020, 7 October 2020, 11 December 2020, 5 January 2021 and 19 January 2021 in respect of the Writ of Summons and Statement of Claim filed by the Company and its wholly owned subsidiary, Khee San Food Industries Sdn Bhd ("Plaintiffs") against HSBC Bank Malaysia Berhad (“Defendant”).

The Company's solicitors, Messrs Krish Maniam & Co. had notified the Company that on 23 February 2021, this matter came up for Decision via e-Review for Enclosure 12 (Defendant’s Summary Judgment Application), Enclosure 16 (Defendant’s Striking Out Application) and Enclosure 31 (Plaintiffs’ Discovery Application) and the Court had allowed Enclosure 12 and Enclosure 16 with costs of RM8,000 for each of the Enclosure.

In light of the above decision, Enclosure 31 is academic, hence, the Court had awarded cost of RM3,000 to the Defendant.

The Company had directed its solicitors to proceed to file the appeal and the stay application.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof and/or upon receipt of any further directions by the Court.

This announcement is dated 23 February 2021.