We refer to the Company’s announcement on 27 May 2022 in relation to its quarterly report on consolidated results for the financial year ended 31 March 2022, wherein the Company
had  recorded the  revenue of RM9.85 million on a consolidated basis, represented less than 5% of its share capital. Thus, the Company has triggered paragraph 8.03A(2)(b) of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities") whereby the Company has an insignificant business or operations.

Accordingly, the Company is an affected listed issuer (“Affected Listed Issuer”).

The Board opined that the Group's existing property development business is viable, sustainable and has growth prospects as there are two projects with total gross development value of RM293.67 million, to be launched in 3rd Quarter and 4th Quarter of 2022 respectively and the development plans for these two projects had been approved by the relevant authorities.

In this regard, the Board of Directors of ACME intends to submit an application to Bursa Securities to seek a waiver from complying with Rule 8.03A(3) of the MMLR in due course.

The Company will make the necessary announcement for any material development in relation to the above in accordance with the MMLR.

This announcement is dated 30 June 2022.