Reference is made to the Company’s announcements dated 8 July 2020, 27 May 2021, 7 January 2022, 13 January 2022, 14 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 5 May 2022, 1 June 2022, 1 July 2022, 1 August 2022,1 September 2022, 3 October 2022, 1 November 2022, 4 November 2022, 29 November 2022, 1 December 2022 and 21 December 2022 (“Announcements”).

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

Pursuant to paragraph 4.1(c) of PN17 of the Main LR, the Board of Directors of the Company wishes to announce that the Company and the appointed advisers are in the midst of formulating a regularisation plan to address its financial condition. 

As announced on 21 December 2022, Bursa Securities had granted the Company an extension of time of six (6) months until 7 July 2023 for the Company to submit its regularisation plan to the relevant regulatory authorities. Therefore, the Company has approximately six (6) months to submit its regularisation plan to the relevant regulatory authorities for approval to implement the same.

The Company will make the necessary announcement(s) regarding the development of the proposed regularisation plan accordingly.

This announcement is dated 3 January 2023.