Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement dated 17 October 2019 in relation to the default in payment to AFFIN Investment.

With reference to the Company’s announcement dated 17 October 2019 in relation to the default in payment of the syndicated term loan facility by ATP, on behalf of the Board of Directors of the Company, we wish to inform that there is no development on the status of the default in payment as at the date of this announcement except for the following:

i.          On 30 October 2019, AFFIN Investment informed ATP that failure to effect the payment as demanded would result in the secured obligations due from ATP becoming due and payable.  In the event that ATP fails to pay the secured obligations as required, AFFIN Investment on behalf of the lenders will proceed to enforce the rights of the lenders as they deem fit without further reference to ATP.

As of the date of this announcement, the Company is unaware of and has not received any document in relation to any enforcement and/or execution proceedings from the lenders against ATP or PCBD.  The Company will make the necessary announcement as and when there are further developments on the default in payment.

This announcement is dated 18 November 2019.