We refer to the announcements made on 22 February 2021 and 17 March 2021 in relation to the Proposed Private Placement (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, Kenanga IB wishes to announce that Bursa Securities had, vide its letter dated 23 March 2021, approved the listing of and quotation for up to 95,115,000 new SCB Shares to be issued pursuant to the Proposed Private Placement.

The approval granted by Bursa Securities for the Proposed Private Placement is subject to the following conditions:

1. SCB and Kenanga IB must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposed Private Placement;
2. SCB and Kenanga IB to inform Bursa Securities upon the completion of the Proposed Private Placement;
3. SCB to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Private Placement; and
4. SCB and Kenanga IB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed.

This announcement is dated 23 March 2021.