The Company wishes to announce that on 15 June 2020, Bursa Malaysia Securities Berhad (“BMSB”) has issued a letter to the Company in relation to the winding-up petitions/order against the Company (“the Letter”).

BMSB requires the Company to confirm whether there was any legal challenge(s)/proceedings filed against the Kuala Lumpur High Court winding-up order dated 13 January 2020 which ordered the Company to be wound up and appointed Mr. Lim San Peen of PricewaterhouseCoopers Advisory Services Sdn Bhd as the Liquidator (“Winding-Up Order”) (including any appeal against and/or application to stay/set aside the Winding-Up Order), and if yes,  to provide details and status of the legal challenge(s)/proceedings together with the relevant documentary evidence (“the Confirmation”).

BMSB shall de-list the Company pursuant to Paragraph 16.11(2)(d) of the Main LR if the Confirmation is not provided to BMSB by 26 June 2020,

In respect of the above, the Company hereby confirms that:

1. there is no legal challenge(s)/proceedings filed against the Winding-Up Order (including any appeal against and/or application to stay/set aside the Winding-Up Order against the Company); and
2. the Board and the Liquidator are of the view that the Company is unable to regularise the financial position in accordance to PN17 of the Main LR. As such, both parties do not have any objection on the delisting of the Company as per the Letter.

This announcement is dated 17 June 2020.