Reference is made to:

(i) the Company’s announcement dated 22 August 2022 (“First Announcement”) and subsequent announcements dated 26 August 2022, 1 September 2022, 6 October 2022, 13 October 2022, 10 November 2022, 1 December 2022, 28 December 2022 and 3 January 2023 in relation to it being classified as an affected listed corporation pursuant to Rule 8.03A of the AMLR; and

(ii) the Company’s announcement dated 31 January 2023 in relation to it being classified as a GN3 company as a result of triggering the prescribed criteria under paragraph 2.1(f) of GN3 of the AMLR, followed by the subsequent monthly announcements pursuant to GN3 and Rule 8.03A of the AMLR dated 2 February 2023, 1 March 2023 and 3 April 2023.

The Board of Directors of the Company wishes to announce that the Company is still in the midst of formulating a regularisation plan to address its financial condition and that it shall make the necessary announcements in relation to the development on the above matter.

The Company has approximately 4 months to submit its regularisation plan to the relevant authorities.

This announcement is dated 2 May 2023.