We refer to our announcements made on 31 October 2022 and 1 November 2022 pertaining to the extension of time to issue SDHB’s Annual Report.

The Board of Directors’ of SDHB hereby announces that the Company is unable to release to Bursa Malaysia Securities Berhad (“Bursa Securities”) and shareholders its Annual Report that includes the annual audited financial statements together with the auditors’ and directors’ reports in respect of the financial year ended 30 June 2022 by 15 December 2022 which have been granted by Bursa Securities via its letter dated 1 November 2022.

The Board of Directors’ of SDHB wishes to announce that on 23 August 2022, an Interim Liquidator, Victor Saw Seng Kee of PricewaterhouseCoopers Advisory Services Sdn Bhd has been appointed as the Interim Liquidator of the Company. The Interim Liquidator has taken the position that the obligations for compliance with the Main Market Listing Requirements (“MMLR”) of Bursa Securities and/or any other statutory requirements including any incidental costs remain primarily the responsibility of the directors of the Company. The Board of Directors of SDHB has taken steps to resolve the outstanding audit issues.   

In view of the above, SDHB is expecting to issue and submit its Annual Report 2022 no later than 22 December 2022 after the completion of the annual audited financial statements of the Group for the financial year ended 30 June 2022.

Pursuant to Paragraph 9.28(5) of the MMLR of Bursa Securities, if SDHB fails to issue its Annual Report 2022 within 5 market days from the expiry of the timeframe, i.e. 22 December 2022 (the last day of this 5 market days shall hereinafter be referred to as "the Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of SDHB.

The suspension shall be effected on the market day following the expiry of the Suspension Deadline and shall be uplifted on the market day following the announcement/issuance of the Annual Report 2022 unless otherwise determined by Bursa Securities. Failing which, the Company's securities will be suspended from trading with effect from 23 December 2022.

Pursuant to Paragraph 9.28(6) of the MMLR, if SDHB fails to issue the Annual Report 2022 within 6 months from the expiry of the timeframe, i.e. 15 December 2022, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against SDHB.

The Company will make further announcement as and when there is material development.

This announcement is dated 16 December 2022.