Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcements dated as follows:

1.         11 February 2020 pursuant to the Practice Note 17 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad;
2.         17 October 2019 in relation to the default in payment to AFFIN Hwang Investment Bank Berhad;
3.         11 February 2020 in relation to the default in payment to Affin Islamic Bank Berhad;
4.         28 February 2020 in relation to the cross default in payment to CIMB Bank Berhad; and
5.         27 July 2020 in relation to the decision of the High Court of Ipoh.

We refer to the Company’s announcements made on the following dates:

1.         11 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020, 1 October 2020, 2 November 2020, 1 December 2020, 4 January 2021, 2 February 2021, 1 March 2021, 1 April 2021, 3 May 2021, 1 June 2021, 1 July 2021, 2 August 2021, 1 September 2021, 1 October 2021, 29 October 2021, 1 November 2021, 1 December 2021, 3 January 2022, 3 February 2022, 4 February 2022, 28 February 2022, 1 March 2022, 1 April 2022, 5 May 2022, 1 June 2022, 1 July 2022, 1 August 2022, 9 August 2022, 1 September 2022, 2 September 2022, 3 October 2022, 1 November 2022, 1 December 2022, 3 January 2023, 2 February 2023, 9 February 2023, 1 March 2023, 3 April 2023 and 13 April 2023 in relation to the Company being classified as a PN17 Company pursuant to PN17 of the Listing Requirements of Bursa Malaysia;
2.         17 October 2019, 18 November 2019, 18 December 2019, 17 January 2020, 28 January 2020, 11 February 2020, and 10 March 2020 in relation to the default in payment of the syndicated term loan facility to the lenders by ATP;
3.         11 February 2020, 12 February 2020, 10 March 2020 and 14 April 2020 in relation to the default in payment of the Musharakah Mutanaqisah Term Financing-i and Tawarruq Revolving Credit-i to AIBB by PCB;
4.         28 February 2020, 2 March 2020, 10 March 2020, 31 March 2020, 2 April 2020 and 14 April 2020 in relation to the cross default in payment of the Revolving Credit to CIMB by PCB;
5.         27 July 2020, 3 August 2020, 19 October 2020, 13 January 2021 and 9 April 2021 in relation to the decision of the High Court of Ipoh granting the Company and PCBD to convene the Creditors’ Meeting; and
6.         11 May 2021 in relation to the sealed order granted by the Court to approve the Proposed Scheme of Arrangement under Section 366 and other relevant provisions of the Companies Act 2016 between the Company, PCBD and its scheme creditors.

On behalf of the Board of Directors of the Company, we wish to inform that the Company had on 13 April 2023 announced that Bursa Malaysia has granted a further extension of time up to 9 August 2023 to submit its regularisation plan to the relevant regulatory authorities.

The Company is working on formulating the regularisation plan to address the Company’s financial condition.

Further details will be announced as and when there is any development on the above matter.

Based on the extension of time granted by Bursa Malaysia for the submission of the regularisation plan, the Company has approximately three (3) months to submit its regularisation plan to the relevant regulatory authorities for approval.

This announcement is dated 2 May 2023.