Reference is made to the announcements dated 26 March 2019, 25 June 2019, 25 September 2019, 24 December 2019, 25 March 2020, 25 June 2020, 25 September 2020 and 24 December 2020 in relation to the Memorandum of Understanding (“MOU”) between Universal Alloy Corporation Europe (“UACE”) and JHM Consolidation Berhad (“Announcements”).

Unless otherwise stated, all definitions used throughout this announcement shall have the same meaning as defined in the earlier Announcements.

The Board of Directors of the Company wishes to inform that the MOU has expired on 25 March 2021 and the Board has no intention to further pursue on the extension of the MOU with UACE after taking into consideration of the uncertainty and the impact of the COVID-19 pandemic to the aerospace industry.

This announcement is dated 25 March 2021.