Reference is made to the Company’s announcements on 10 August 2022 and 1 September 2022 in relation to the Company triggering Paragraph 8.03A(2)(a)(bb) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”) and having been considered as an affected listed issuer, as well as its development update in compliance with the requirements under Paragraph 8.03A of the MMLR.

The Board of Directors (“Board”) of the Company wishes to inform that the Company has started the project planning to effectively address all options available to regularise the affected listed issuer status of the Company. To this extent, the Company will engage a principal adviser and other relevant parties to assist the Company in evaluating available options that could facilitate the Company in regularising its affected listed issue status. 

The Company recently announced the resignation of its 2 foreign directors, Mr. Pan Ding and Mr. Pan Dong following the completion of the disposal of its foreign shareholdings in Be Top Group Limited. The Company had also appointed Datuk Seri Dr Nik Norzrul Thani bin Nik Hassan Thani, a well-known name in the legal industry, as its Director and a Member of the Board Committees. This reflects the Company’s readiness and intention in enhancing its business plan in support of the regularisation exercise.

The Company has approximately 10 months to submit for approval a regularisation plan to the relevant authorities and will continue to make further announcements in relation to any latest development in accordance with the requirements under Paragraph 8.03A of the MMLR.

This announcement is dated 3 October 2022.