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”).

On behalf of the Company, M&A Securities Sdn Bhd wishes to announce that after due consideration of all facts and circumstances of the matter, Bursa Securities had vide its letter dated 28 March 2023 decided to:

1. reject SGB’s request to vary the terms and conditions for SGB to settle/pay the settlement sum of RM8 million (“Settlement Sum”) to Malayan Banking Berhad (“Maybank”) on or before 15 March 2023 ("Condition to Pay”) as stipulated in Bursa Securities' letter dated 13 February 2023, if Maybank was willing to consider SGB’s revised offer for the cash settlement of the Settlement Sum vide letter dated 24 February 2023 (“Revised Maybank Offer”) or revise the timeline stipulated in the Condition to Pay to match the timing of Maybank's decision vis-a-vis the Revised Maybank Offer;

2. dismiss the Company's appeal for a further extension of time of a clear 6 months from the decision of Bursa Securities to submit its regularisation plan to the relevant authorities for approval (“Further Extended Timeframe”); and

3. de-list the securities of the Company from the Official List of Bursa Securities pursuant to paragraph 8.04 of the Main Market Listing Requirements.

In the circumstances, the securities of the Company will be removed from the Official List of Bursa Securities on 31 March 2023.

With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.

Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities' General Line at 03-2034 7000 for further information on the withdrawal procedures.

Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and businesses and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company's performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.

This announcement is dated 28 March 2023.