Pursuant to Rule 8.04 and Guidance Note 3 (“GN3”) of the ACE Market Listing Requirements (“ACELR”) of Bursa Malaysia Securities Berhad (“Bursa”) and letter from Bursa dated 16 April 2020 (“Letter”) pertaining to further relief measures to listed corporations with unsatisfactory financial condition that triggers any of the criteria under GN3 of the ACELR (“Suspended Criteria”) from 17 April 2020 to 30 June 2021 (“GN3 Relief Measures”), the Board of Directors of Bahvest Resources Berhad (“Company”) wishes to announce that the Company has triggered one of the Suspended Criteria as described in the Letter i.e. it has incurred loss in any 1 full financial year (“FY”) commencing on or after its listing, which is equal to or exceed the amount of its shareholders’ equity at the end of the said FY and its shareholders’ equity is equal to or less than 50% of its share capital at the end of the said FY.

Under the GN3 Relief Measures, the Company will not be classified as a GN3 company and it does not required to comply with the obligations pursuant to Rule 8.04 and GN3 of the ACELR for a period of 12 months from the date of triggering the aforesaid suspended criteria.

The Company will endeavor to improve and re-assess its condition and upon the expiry of the 12 months from this announcement, announce whether it continues to trigger any of the criteria in GN3 of the ACELR (“said Announcement”).

If the Company continues to trigger any of the criteria in GN3 of the ACELR after the aforesaid 12 months period, it will be classified as a GN3 company and will comply with all the obligations under Rule 8.04 and GN3 of the ACELR, including the obligation to submit a regularisation plan to Bursa within 12 months from the said Announcement.

This announcement is dated 30 June 2020.