Reference is made to the prospectus of the Company dated 13 April 2026 in relation to its initial public offering ("Prospectus"), particularly, the litigation "IDPM Associates Sdn. Bhd. vs Sungai Klang Expressway Sdn. Bhd." disclosed in Section 15.5(i) of the Prospectus ("Suit").
The Company wishes to announce that the Kuala Lumpur Sessions Court had on 27 July 2026 recorded a consent judgment in respect of the Suit ("Consent Judgment").
Pursuant to the Consent Judgment:
(i) the Defendant has agreed to pay IDPM Associates a total sum of RM241,326.99 as full and final settlement of the Suit by way of nine (9) monthly instalments, comprising eight (8) monthly instalments of RM25,000.00 each payable on or before first day of each month from 1 September 2026 to 1 April 2027 and a final instalment of RM41,326.99 payable on or before 1 May 2027;
(ii) the Defendant may apply for an extension of time not exceeding two (2) days to make any monthly instalment payment specified in the Consent Judgment, provided that the Defendant submits a written application to IDPM Associates before the relevant payment due date together with reasonable grounds for such application. Any such application shall be subject to the approval and absolute discretion of IDPM Associates;
(iii) in the event that the Defendant fails to pay any settlement instalment in accordance with the Consent Judgment, IDPM Associates shall be entitled to immediately claim from the Defendant the sum of RM268,141.10, less any payments already made by the Defendant; and
(iv) IDPM Associates and the Defendant shall bear their respective costs of the Suit.
IDPM Associates will monitor the settlement payments by the Defendant in accordance with the Consent Judgment and take such further action as may be necessary in the event of any default in payment.
The amount due from the Defendant in respect of the Suit had been fully impaired by IDPM Associates in the financial year ended 30 November 2022. Accordingly, the Consent Judgement is not expected to have any material adverse effect on the business operations and financial position of the Company and its subsidiaries.
TA Securities Holdings Berhad ("TA Securities"), being the Sponsor, was responsible for the admission of Inspace Creation to the ACE Market of Bursa Malaysia Securities Berhad on 8 May 2026. TA Securities assumes no responsibility for the contents of this announcement.
This announcement is dated 11 August 2026.