We refer to the Company’s announcement dated 18 October 2019 (“Announcement”) in relation to the application for an extension of time to submit MAAG’s regularisation plan.

Unless otherwise stated, abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Announcement.

On behalf of the Board of Directors of MAAG (“Board”), TA Securities Holdings Berhad wishes to announce that Bursa Securities has vide its letter dated 20 November 2019 decided to grant the Company an extension of time of up to 30 April 2020 to submit the regularisation plan to the regulatory authorities. This extension of time was granted after due consideration of all facts and circumstances on the Application, including the financial position of MAAG based on its latest financial statements, the Company’s on-going businesses that are revenue generating as well as the developments towards regularisation of its financial condition.

The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of MAAG and to de-list the Company in the event:

1. the Company fails to submit a regularisation plan to the regulatory authorities on or before 30 April 2020;
    
2. the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or
    
3. the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of MAAG on the sixth (6th) market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.

This announcement is dated 20 November 2019.