Reference is made to the announcement dated 13 February 2022 in relation to the extension of time until 31 May 2023 (“Extended Timeframe”) granted by Bursa Securities Sdn Bhd (“Bursa Securities”) to submit the Company’s Regularisation Plan to the relevant regulatory authorities (“EOT”).

The approval granted by Bursa Securities is subject to the settlement/payment on the settlement sum of RM8.00 million ("Settlement Sum") to Malayan Banking Berhad (“Maybank”) on or before 15 March 2023, failing which the securities of SGB will be delisted pursuant to Paragraph 8.04 of the Main Market Listing Requirements of Bursa Securities.

M&A Securities Sdn Bhd, on behalf of the Board of Directors of SGB, wishes to announce that the Company has not met the condition of Bursa Securities to repay the Settlement Sum by 15 March 2023 ("Condition").

Maybank had, vide its letter dated 13 March 2023 granted SGB an extension of time until 29 March 2023 (“Maybank EOT”). The Company had on 15 March 2023 announced that they have appealed for a further extension of time from Maybank to repay the Settlement Sum. Maybank had rejected SGB’s appeal on 15 March 2023 and will maintain its decision to grant SGB the Maybank EOT. As at the date of this announcement, the Board is currently deliberating on its next course of action.

Additionally, SGB has sought for an extension of time from Bursa Securities to meet the Condition and is pending the decision from Bursa Securities.

This announcement is dated 16 March 2023.