Reference is made to our announcement dated 02nd  November, 2018, 07th  December, 2018, 09th  January, 2019, 13th  February, 2019, 18th  March 2019, 15th April 2019, 08th May 2019, 12th June 2019, 01st  July 2019, 01st August 2019, 03rd September 2019, 04th October  2019 and 4th November 2019 (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Board of Directors of the Company wishes to inform that with regards to the appeal against the order for sale of the charged land, Zecon Capital Ventures Sdn Bhd (“ZCVSB”) (Now known as Huang Hong Sdn Bhd) (Huang Hong) had via its solicitors filed to the High Court the Application For Stay of Execution And Proceedings against the order of sale on 11 October 2019.

As regards the Plaintiff application for summary judgment and an application to strike out the Company’s counterclaim, on 4 October 2019, the Court adjourned the application for mention to 18 October 2019.  On 18 October 2019, the Court directed the Company to file Affidavit In Reply by 8 November 2019 and the Plaintiff to file further affidavit, if any, by 22 November 251019.  The hearing had been adjourned to 28 November 2019.

On 28 November 2019, the Court fixed the matter for further mention on 5 December 2019 to monitor the affidavits.

On 29 October 2019, Huang Hong had via its solicitors filed the Writ and Statement of Claim to the High Court against the Plaintiff.  The matter had been fixed for mention on 29 November 2019.

On 29 November 2019, the Court has fixed 10 January 2020 to monitor pleadings.

This announcement is dated 5th December 2019.