Reference is made to our announcements on 21 February 2025, 17 April 2025, 11 June 2025 and 29 August 2025.

Further to the announcement on 29 August 2025, the Board of Directors of the Company wishes to update that a creditor/ shareholder of THB, Newfields Land Sdn Bhd, filed an application for the appointment of a private liquidator to challenge the liquidator proposed under the winding-up petition. Due to the exchange of affidavits between the parties for the said application the given hearing date on 12 September 2025 was postponed and a new hearing date was fixed on 23 October 2025.

The winding up petition was heard today. The Judge proceeded to hear counsel's submissions. The Judge has reserved her decision to 28 January 2026 @ 9.00am. The Judge will also decide on the same date which liquidator is to be appointed, in the event THB Power Sdn Bhd is wound up.

Save for the non-receipt of the final tranche payment of RM27,902,335.85 from THB Power Sdn Bhd, no further financial impact on the Group is expected at this juncture. 

The Board and Management of the Company will make further announcements to Bursa Malaysia Securities Berhad as required and/or upon receipt of further directions from the Court.

This is announcement is dated 23 October 2025.