Reference is made to the announcement dated 18 April 2022 in relation to the Company’s appeal on the decision against the de-listing of SGB (“Appeal”) to Bursa Malaysia Securities Berhad (“Bursa Securities”).

M&A Securities Sdn Bhd, on behalf of the Board of Directors of SGB, wishes to announce that Bursa Securities had vide its letter dated 15 June 2022 informed that after due consideration of all facts and circumstances of the matter including the written and oral presentations before the Appeals Committee in particular the following:

(a) Malayan Banking Berhad ("Maybank"), the largest creditor of the Company (where the liabilities owed to Maybank of RM151.27 million, represented 55.85% of SGB's outstanding liabilities) had vide letter dated 9 May 2022 ("Maybank's Letter") agreed to accept a settlement sum of RM8 million in cash from the third party identified by SGB as settlement of SGB's liabilities and obligations under the Memorandums of Deposit subject to the terms and conditions therein;

(b) the Board had sought an extension of time from Maybank to consider and revert with its agreement/acceptance on the terms and conditions as stated in Maybank's Letter and the Company had subsequently on 8 June 2022 accepted the settlement proposal from Maybank; and

(c) the Company's representations vis-a-vis its proposed regularisation plan.

Bursa Securities has decided to allow the Appeal and grant SGB a further extension of time until 30 November 2022 to submit the regularisation plan to the relevant authorities for approval (“Extended Timeframe”).

Bursa Securities has further decided to de-list the securities of SGB from the Official List of Bursa Securities pursuant to paragraph 8.04 of the Main Market Listing Requirements of Bursa Securities in the event that:

(i) the Company fails to submit the regularisation plan to the relevant authorities for approval within the Extended Timeframe i.e. on or before 30 November 2022;

(ii) the Company fails to obtain the approval for the implementation of its regularisation plan and does not appeal within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;

(iii) the Company does not succeed in its appeal; or

(iv) the Company fails to implement its regularisation plan within the timeframe or extended timeframes stipulated by the relevant authorities.

Upon occurrence of any of the events set out in (i) to (iv) above, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of two (2) market days from the date the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.

This announcement is dated 15 June 2022.