Reference is made to the announcement dated 30 November 2022 in relation to the submission of extension of time application to Bursa Securities Sdn Bhd (“Bursa Securities”) to submit the Company’s Regularisation Plan to the relevant regulatory authorities (“EOT Application on Extended Timeframe”).

M&A Securities Sdn Bhd, on behalf of the Board of Directors of SGB, wishes to announce that Bursa Securities have after due consideration of all facts and circumstances of the matter, in particular the following:

(a) Malayan Banking Berhad ("Maybank") had vide letter dated 18 January 2023 granted an extension of time until 31 March 2023 or 30 days from the date of Bursa Securities' decision on SGB's request for further extension of time to submit the Company's regularisation plan, whichever is earlier, for SGB or the third party identified by SGB (''Third Party") to pay the settlement sum of RM8.00 million ("Settlement Sum");

(b) the Company's representations that the funding for the payment of the Settlement Sum from the Third Party could be finalised after completion of the sanction by the High Court of Malaya of the Scheme of Arrangement and Reconstruction with SGB's unsecured creditors ("Sanction Order"), where the Sanction Order dated 19 December 2022 had been lodged with the Companies Commission of Malaysia on 13 January 2023 and advertised in the New Straits Times on 19 January 2023; and

(c) the Company’s representations vis-à-vis its proposed regularisation plan,

decided to grant SGB a further extension of time of 6 months until 31 May 2023 (“Extended Timeframe”) to submit the Company’s regularisation plan to the relevant authorities for approval, subject to the settlement/payment of the Settlement Sum to Maybank within 30 days from the date here of i.e. on or before 15 March 2023.

Bursa Securities has further decided to de-list the securities of SGB pursuant to paragraph 8.04 of the Main Market Listing Requirements of Bursa Securities in the event that:

(i) the Settlement Sum is not paid to Maybank on or before 15 March 2023;

(ii) the Company fails to submit the regularisation plan to the relevant authorities for approval within the Extended Timeframe i.e. on or before 31 May 2023;

(iii) the Company fails to obtain the approval for the implementation of its regularisation plan and does not appeal within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;

(iv) the Company does not succeed in its appeal; or

(v) the Company fails to implement its regularisation plan within the timeframe or extended timeframes stipulated by the relevant authorities.

Upon occurrence of any of the events set out in paragraphs (i) to (v) above, the securities of the Company will be removed from the Official List of Bursa Securities upon the expiry of two (2) market days from the date the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.

This announcement is dated 13 February 2023.