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, 19 February 2021 and 23 February 2021 in respect of Default in Payment to Creditor Banks and with reference to the announcements made on 15 July 2020, 27 July 2020, 12 August 2020, 18 September 2020, 30 September 2020, 21 October 2020, 10 November 2020, 20 November 2020, 11 December 2020 and 8 February 2021 in respect of the default in payment to Maybank Islamic Berhad.

The Company's solicitors, Messrs Krish Maniam & Co. had notified the Company that on 24 February 2021, this matter came up for Hearing for Enclosure 17 (the Defendant’s Striking Out Application) and Enclosure 20 (the Plaintiff’s Consolidation Application) and the Court had invoked its inherent jurisdiction to transfer this action to the Kuala Lumpur High Court (Muamalat Division) vide suit no. WA-22M-35-02/2021.

In light of the above, the Court had also awarded cost of RM5,000.00 to the Defendant.

The next Case Management for Enclosure 1 has been fixed on 1 March 2021.

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 24 February 2021.