We refer to the announcement dated 6 August 2020, 10 November 2020, 8 June 2022, 9 June 2022, 28 July 2022, 30 August 2022, 12 October 2022 and 15 November 2022 (“Announcements”).  Unless otherwise defined, the terms herein shall bear the same meaning as defined in the Announcements.

The Company has on 24 November 2022 accepted a further EOT up to 28 December 2022 to pay the Settlement Sum with the following additional conditions imposed by Maybank:

1. Confirmation by the Company that the settlement of the liabilities to Maybank under the Memorandums of Deposit and Consent Judgment shall be governed by the terms and conditions of the Revised Settlement Proposal and not the Proposed Scheme of Arrangement carried out recently by the Company or the statements in the Explanatory Statement to Scheme Creditors in connection with the Proposed Scheme of Arrangement; and
2. Confirmation by the Company that the Proposed Scheme of Arrangement does not bind Maybank.

The Company will make further announcement on any material development in due course.

This announcement is dated 24 November 2022.