Reference are made to the announcements dated 26 April 2018, 31 May 2018, 29 June 2018, 31 July 2018, 30 August 2018, 28 September 2018, 31 October 2018, 30 November 2018, 31 December 2018, 31 January 2019, 28 February 2019, 29 March 2019, 26 April 2019, 30 April 2019, 31 May 2019, 28 June 2019, 31 July 2019 and 30 August 2019.

The announcement dated 1 November 2018 in relation to the resignation of the Chief Financial Officer on 31 October 2018 also refers.

The Board of Directors of Maxwell International Holdings Berhad ("MAXWELL" or "the Company") hereby announces that the Company is still unable to issue or submit to Bursa Malaysia Securities Berhad (“Bursa Securities”) and shareholders its Annual Reports that includes the annual audited financial statements together with the auditors’ and directors’ reports in respect of the financial years ended 31 December 2017 and 31 December 2018 (“Outstanding Financial Statements/Annual Reports 2017 & 2018”) as the Company is still experiencing cash flow problems for the completion and finalisation of the audit of the Group for the financial year ended 31 December 2017 and 31 December 2018.

The difficulty faced by the Company in appointing a replacement chief financial officer has further aggravated the situation.

In order to expedite the completion and finalisation of the audit of the Group, the Management has sought potential investors to secure funding for the Company to complete the audit.

In view of the above, MAXWELL is expecting to issue and submit its Annual Reports 2017 & 2018 within 3 months after the completion of the annual audited financial statements of the Group for the financial years ended 31 December 2017 and 31 December 2018.

Pursuant to Paragraph 9.28(5) of the Main Market Listing Requirements of Bursa Securities, if MAXWELL fails to issue its Annual Reports 2017 and 2018 within 5 market days from the expiry of the timeframe, i.e. 30 April 2018 and 30 April 2019, respectively (the last day of this 5 market days shall hereinafter be referred to as “the Suspension Deadline”), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of MAXWELL.

The suspension shall be effected on the market day following the expiry of the Suspension Deadline and shall be uplifted on the market day following the announcement/issuance of the Annual Reports 2017 & 2018 unless otherwise determined by Bursa Securities. The Company's securities have been suspended from trading since 10 May 2018.

Pursuant to Paragraph 9.28(6) of the MMLR, if MAXWELL fails to issue the Annual Reports 2017 & 2018 within 6 months from the expiry of the timeframe, i.e. 30 April 2018 and 30 April 2019, respectively, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against MAXWELL.

This announcement is dated 30 September 2019.