Unless otherwise stated, the terms used throughout the announcement shall have the same meanings as defined in the Announcements dated 14 March 2023, 17 March 2023, 31 March 2023, 3 April 2023, 2 May 2023, 24 May 2023, 25 May 2023, 1 June 2023, 3 July 2023 and 6 July 2023.

We refer to our announcement dated 6 July 2023 (Reference No. GA1-06072023-00062), the Board of Directors of the Company wishes to provide the following additional information pursuant to Part D, paragraph 9.19(20) (h) of Bursa Malaysia Securities Berhad Main Market Listing Requirements.

The steps taken or proposed to be taken by the listed issuer in respect of the appointment of the joint and several Receivers and Managers include:-

1. The Company and its wholly owned subsidiary, ARSB are actively involved in ongoing exercises aimed at securing funds and/or investments to address the outstanding amounts owed to OCBC and for the purposes of facilitating future business activities.

2. ARSB are actively engaged in negotiations with their Insurance Company through their insurance claims specialist, Sterling, to recover the insurance claims proceeds which will be used to settle the outstanding amounts owed to OCBC and towards rebuilding of The Andaman.

The Board of Directors of the Company would like to emphasize that the Company and ARSB are actively engaged in pursuing both the insurance claims and the funding options concurrently, with the primary objective of repaying the outstanding amounts owing to OCBC.

The Board of Directors of the Company will make the necessary announcement on further development as and when necessary.

This announcement is dated 7 July 2023.