The Board of Directors of JCB wishes to inform that its wholly-owned subsidiary, CASB had on 14 February 2023 received a Notice pursuant to Section 466(1)(a) of the Companies Act 2016 (“the Notice”) by Messrs. Ramesh Dipendra Jeremiah Law, the Solicitors acting on behalf of RHB demanding for the payment of the outstanding sums of RM28,814,977.88 including principal sum and interest due and owing by CASB arising from failure to pay the debts pursuant to the banking facilities granted by RHB.

In the event that CASB failed to pay RHB at the expiration of twenty one (21) days from the date of the Notice received, CASB will be deemed pursuant to Section 466(1) of the Companies Act 2016 and the winding up proceedings will be commenced against CASB.

The Company wishes to announce that it will defend the proceedings and will contest any winding up proceedings that may be initiated.

CASB is not a major subsidiary of JCB.

The Company is seeking the necessary legal advice to resolve and/or defense against this matter.

Further announcement(s) to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.

This announcement is dated 14 February 2023.