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, 23 February 2021 and 24 February 2021 in respect of Default in Payment to Creditor Banks and with reference to the Company's announcements made on 26 August 2020, 10 September 2020, 19 October 2020, 18 November 2020, 24 December 2020 and 25 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 OCBC Bank (Malaysia) Berhad ("Defendant").

The Company's solicitors, Messrs Krish Maniam & Co. had notified the Company that on 25 February 2021, this matter came up for Decision via e-Review for Enclosure 11 (Defendant’s Striking Out Application) and Enclosure 13 (Defendant’s Application to enter Summary Judgment) and Case Management for Enclosure 23 (Plaintiffs’ Discovery Application).

The Court had allowed Enclosure 11 with costs of RM35,000 subject to allocator and Enclosure 13 with costs of RM7,000 subject to allocator.

In light of the above decision, Enclosure 23 is academic. Hence the Court had awarded cost of RM8,000 subject to allocator to the Defendant.

The Company had directed it 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 25 February 2021.