Reference is made to our announcement dated 02 November, 2018, 07 December, 2018, 09 January, 2019, 13 February, 2019, 18 March 2019, 15 April 2019, 08 May 2019, 12 June 2019, 01 July 2019, 01 August 2019, 03 September 2019, 04 October 2019, 4 November 2019, 04 December 2019, 07 January 2020, 06 February 2020, 09 March 2020, 06 April 2020, 06 May 2020 and 05 June 2020 (“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 dismissal of its appeal against the order for sale of the charged land made on 14 May 2020, the Company’s appeal to the Court of Appeal was dismissed on 24 June 2020.   On 25 June, the High Court granted order to the Plaintiff application for directions on sale and fixed the tender on 11 November 2020.

As regards the Plaintiff application for summary judgment and an application to strike out the Company’s counterclaim, due to the declaration of the Movement Control Order (MCO), the Court had on the rescheduled mention date of 25 June 2020 fixed 15 July 2020 for decision for both application for summary judgement and strike out.

As regards the suit by Huang Hong against Affin Hwang, the Court had on 16 June 2020, adjourned the hearing of Plaintiff application for consolidation to 30 June 2020. On 18 June 2020, the Court adjourned the hearing of Defendant strike out application to 9 July 2020.  On 30 June 2020, the Court directed parties to exchange their written submission and submission in reply and fixed for hearing before the Judge on 18 August 2020.

This announcement is dated 03 July 2020.