Reference is made to the Company's announcements made on 24 June 2020, 25 June 2020, 26 June 2020, 17 July 2020, 22 July 2020, 24 August 2020, 21 September 2020, 19 October 2020, 19 November 2020, 21 December 2020, 19 January 2021, 23 February 2021, 22 March 2021, 21 April 2021, 20 May 2021, 28 June 2021, 27 July 2021, 30 August 202, 8 September 2021, 29 October 2021, 30 November 2021, 30 December 2021, 28 January 2022, 28 February 2022, 29 March 2022, 28 April 2022, 31 May 2022, 30 June 2022 and 29 July 2022 in relation to the Default in Payment to Alliance Bank Malaysia Berhad ("Announcements"). Unless otherwise defined, the definitions set out in the Announcements shall apply herein. 

The Board of Directors of Magna wishes to inform that there has been no change to the status of default in payment to Alliance Bank since last announcement dated 29 July 2022.

Further announcement on the development of the above matter will be made as and when necessary.

This announcement is dated 29 August 2022.