Reference is made to the announcements dated 3 July, 7 July and 13 October 2020 on the receipt of a Winding-up Petition ("Petition") by Boustead Naval Shipyard Sdn Bhd ("BNS"), a subsidiary company.

The Board of Directors of Boustead Holdings Berhad ("BHB" or the "Company") wishes to announce that on 28 OCtober 2020, the High Court of Kuala Lumpur granted an extension of the ad interim restraining order on the same terms until the next court hearing date on 3 December 2020.

The ad interim restraining order will not restrain or stay the continuation of the legal proceedings in Kuala Lumpur High Court Companies Petition No. WA-28NCC-490-06/2020 brought by MSM and the Ipoh High Court Suit No. 22NCvC-193-08/2012 brought by Ingat Kawan Sdn Bhd.

The Board will make the relevant update announcement(s) in relation to the foregoing as and when there are material developments on the same.

This announcement is dated 30 October 2020.