Reference is made to media reports published on 8 September 2025, which reported among others that Tan Sri Abu Sahid Mohamed, the Director of Maju Holdings Sdn. Bhd., was charged with 13 counts of money laundering involving RM139 million, including transfers to the Company’s wholly-owned subsidiary, Econpile (M) Sdn. Bhd. (“EMSB”) amounting to RM42.89 million in 2017 and RM34.68 million in 2018.

The Board of Directors of Econpile Holdings Berhad wishes to clarify that, since 2019, EMSB has initiated various legal actions against ASM Development (KL) Sdn. Bhd. a company related to Tan Sri Abu Sahid Mohamed, to recover amounts due for works performed for the Maju Kuala Lumpur project which were announced and updated to the shareholders regularly. Payments received by EMSB prior to the legal actions were for works performed on this project.

After due inquiry with the Board of Directors and senior management, the Company confirms that neither the Company nor EMSB has been charged in relation to the above and that business operations remain unaffected.

This announcement is dated 9 September 2025.