Reference is made to our announcements dated 18 August 2017, 5 January 2018, 11 January 2018, 16 November 2018, 14 December 2018, 8 October 2020, 19 July 2021 and 22 July 2021 pertaining to the Writ of Summons and Statement of Claim filed by Transnasional Express Sdn. Bhd. (“Transnasional”), Plusliner Sdn. Bhd. (“Plusliner"), Syarikat Kenderaan Melayu Kelantan Berhad (“SKMK”), Syarikat Rembau Tampin Sdn. Bhd. (“SRT”), Kenderaan Langkasuka Sdn. Bhd. (“Langkasuka”), Konsortium Transnasional Berhad (“KTB”) and MHSB Properties Sdn. Bhd. (“MHSB”) (collectively “the Plaintiffs”) against Tan Chong Industrial Equipment Sdn. Bhd. (“TCIE”), a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“TCMH” or “the Company”).

The Company wishes to announce that at the High Court’s hearing held today, 23 September 2021, the High Court had granted a stay of execution/enforcement proceedings in relation to the Judgment of the High Court dated 15 July 2021 pending the disposal of TCIE's appeal to the Court of Appeal.

The Judge had directed that the costs in respect of the application for stay be borne by each party.

The Company will update material developments on the above matter from time to time.

This announcement is dated 23 September 2021.