The Board of Directors of Bina Puri Holdings Bhd ("the Company" or "BPURI") wishes to announce that Bina Puri Sdn. Bhd. (“BPSB”), a wholly-owned subsidiary of BPURI, had on 1 June 2023 vide Originating Summons No. BA-24NCC-58-05/2023, been granted with an order by the High Court of Malaya at Shah Alam (“Court”) pursuant to Section 366 and 368 of the Companies Act 2016 (the “Act”), (“the Order”).

Pursuant to the Order, BPSB has, amongst others, been granted leave of Court to summon a meeting with its scheme creditors for the purpose of considering and, if thought fit, approving a proposed scheme of arrangement between BPSB and its creditors at such venue and on such date and time as will be notified by BPSB to BPSB’s creditors. The Order further restrains, amongst others, all pending proceedings or actions against BPSB and/or the initiation of any proceedings and actions against BPSB for a period of three (3) months from the date of the Order, except by leave of Court.

The Order is not expected to have any material impact on the financial and operational matters of BPSB. The details of the abovementioned proposed scheme of arrangement are in the process of being formulated and will be announced by the Company in due course.

This announcement is dated 2 June 2023.