The Board of Directors of PinePac (“Board”) refers to the announcements dated 3rd September 2019, 3rd October 2019, 1st November 2019, 3rd December 2019, 3rd January 2020,  3rd February 2020, 3rd March 2020, 2nd April 2020, 4th May 2020, 1st June 2020, 1st July 2020, 3rd August 2020, 1st  September 2020, 1st October 2020, 2nd  November 2020, 1st December 2020, 4th January 2021, 2nd February 2021, 1st March 2021, 1st April 2021, 3rd May 2021, 1st June 2021, 1st July 2021, 2nd August 2021, 13th August 2021, 1st September 2021, 9th September 2021, 1st October 2021, 1st November 2021, 1st December 2021, 3rd January 2022, 3rd February 2022, 11th February 2022, 1st  March 2022, 1st  April 2022 and 1st May 2022 in relation to the Company being classified as an affected listed issuer pursuant to Paragraph 8.03A(2) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”). 

The Board wishes to inform that subsequent to our announcement dated 1st May 2022, there is no material development on the status of the Company’s regularisation plans. Nonetheless during this challenging period, the Company is continuously assessing potential investments to be included in its regularisation plan.

The Company has approximately three (3) months until 2nd September 2022 to submit a regularisation plan to the relevant authorities for approval. The Company will make the relevant announcement should there be any material development in relation to its regularisation plan.

This announcement is dated 1st June 2022.