The Board of Directors ("the Board") of New Hoong Fatt Holdings Berhad ("NHF" or "the Company") wishes to announce that the Company has on 21 July 2025 received a notice in writing dated 21 July 2025 from Messrs. BDO PLT (“BDO”) on their resignation as external auditors of the Company and its subsidiaries (collectively "the Group"), pursuant to Section 281(1) of the Companies Act 2016. Based on the notice of resignation, the term of office of BDO as external auditors of the Company will cease after twenty-one (21) days from 21 July 2025, pursuant to Section 281(2) of the Companies Act 2016.

BDO was re-appointed as the external auditors of the Company at the last Annual General Meeting (“AGM”) of the Company held on 4 June 2025, to hold office until the conclusion of the next AGM and the Board was authorised by the shareholders of the Company to fix the remuneration of BDO for the financial year ending 31 December 2025. Upon further discussion, it was mutually agreed that BDO would resign as external auditors of the Group, as the Company intends to appoint new external auditors for the Group for the financial year ending 31 December 2025. 

Save for the above, the Board is not aware of any other matters or circumstances in connection with the resignation of BDO as external auditors of the Group that need to be brought to the attention of the shareholders of NHF.

As part of the Company’s ongoing efforts to align with good corporate governance practices, the Board is of the view that it is timely to effect a change of the Group’s external auditors to enhance the auditors’ independence and objectivity, after considering that BDO has served as external auditors of the Group for over twenty-nine (29) years since 1996. The Board believes that this change will bring fresh perspectives and further enhance the robustness and effectiveness of the audit process moving forward.

Further announcement(s) on the appointment of new external auditors will be made in due course.

This announcement is dated 21 July 2025.