(Unless otherwise stated, the terms used herein shall have the same meaning as defined in the announcement in relation to the Legal Suit by Handal Energy Berhad against Brian Chang, Tracy Chang, Emily Soon Wai Chin, Calm Oceans Pte Ltd and Brian Chang Holdings Ltd dated 1 September 2020)

Reference is made to the Company’s announcements made on 1 September 2020, 3 September 2020 30 September 2020 and 11 November 2020.

Handal Energy Berhad (“Handal” or “the Company”) wishes to announce that the Defendants had on 28 December 2020 filed the Application for stay of proceedings pursuant to Section 10 of the Arbitration Act 2005 and/or Order 69 Rule 10 and/or Order 92 Rule 4 of the Rules of Court 2012).

The hearing of the above application has been fixed on 22 March 2021.

Further announcement will be made to Bursa Malaysia Securities Berhad if there is any significant development in respect of this matter.

This announcement is dated 28 December 2020.