Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the information memorandum of Steel Hawk dated 10 September 2021 ("Information Memorandum") and the earlier announcements in relation to the Suit.

We refer to the details of the Suit as disclosed in Section 10.3(iii) of the Information Memorandum and the Company's announcements dated 16 November 2021 and 7 December 2021 in relation to the Suit.

The Board of Directors of Steel Hawk wishes to update that Steel Hawk Engineering has been informed by its Solicitors on 17 May 2022 of the following:-

1. The Bankruptcy Notice was successfully served to Ms. Thilaga A/P Velayan on 9 December 2021;
2. Pursuant to a Case Management held on 21 December 2021 in the Kuala Lumpur High Court via E-Review, Ms. Thilaga A/P Velayan (as the Judgment Debtor) did not attend to the same, nor did she file any Affidavits in Reply to challenge the bankruptcy proceedings. Further to the same, the Kuala Lumpur High Court pronounced that the Act of Bankruptcy is deemed to have been committed on 21 December 2021 by the Judgment Debtor, being Ms. Thilaga A/P Velayan;
3. Subsequent thereto, Steel Hawk Engineering and SS Innovations Sdn Bhd, through their Solicitors, had proceeded to file the Amended Creditor’s Petition dated 31 January 2022. The relevant cause papers were served to the Kuala Lumpur Department of Insolvency and Ms. Thilaga A/P Velayan;
4. The Amended Creditor’s Petition proceeded for Hearing on 20 April 2022. The Kuala Lumpur High Court proceeded to pronounce the Bankruptcy Order as against Ms. Thilaga A/P Velayan; and
5. Steel Hawk Engineering and SS Innovations Sdn Bhd shall proceed to instruct their Solicitors to gazette the Bankruptcy Order and file the Proof of Debt with the Kuala Lumpur Department of Insolvency as against Ms. Thilaga A/P Velayan.

This announcement is dated 17 May 2022.