Pursuant to Section 3.3 of Practice Note 19 of the Bursa Malaysia Securities Berhad ("Bursa Securities") Main Market Listing Requirements ("Listing Requirements"), the Company hereby makes the following Status Announcement on its compliance with the required public shareholding spread, in conjunction with the release of its quarterly results for the fourth quarter ended 31 July 2017.

The Company currently does not meet the public shareholding spread requirement as set out in Paragraph 8.02(1) of the Listing Requirements which states that a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders. As announced by the Company on 30 June 2017, Bursa Securities has vide their letter dated 29 June 2017 granted the Company an extension of time of six months until 31 December 2017 to comply with the public shareholding spread requirement.

The public shareholding spread of the Company as at 18 August 2017 was 7.08%.

The trading in the securities of the Company had been suspended since 2 September 2016. The suspension will only be uplifted by Bursa Securities upon the Company's full compliance with the public shareholding spread requirement under Paragraph 8.02(1) of the Listing Requirements or as may be determined by Bursa Securities. 

As announced by the Company on 30 June 2017, the controlling shareholder of the Company, Hwang Enterprises Sdn Bhd has vide an offer letter dated 30 June 2017 (“SCR Offer Letter”) requested the Company to undertake a selective capital reduction and repayment exercise (“Proposed SCR”), to be followed by an application to Bursa Securities for withdrawal of its listing status upon the successful completion of the Proposed SCR, to address the non-compliance with the 25% public shareholding spread requirement. Accordingly, the Board (save for Mr. Hwang Lip Teik, Mr. Hwang Lip Koon and Mr. Teoh Teik Kee) had at a meeting held on 20 July 2017, deliberated on the contents of the SCR Offer Letter and resolved to table the Proposed SCR to the shareholders of the Company for their consideration and approval. The Proposed SCR will be tabled at the forthcoming extraordinary general meeting to be held on 15 September 2017.

This announcement is dated 11 September 2017.