The Board of Directors wishes to announce that the Board was notified of the following ongoing litigations on 10 January 2024:

(i.) Three (3) High Court Winding-up Petitions of EVD Engineering Sdn Bhd (“EVDE”), a wholly-owned subsidiary of EVD (“Suit”), coming up for hearing on 5 February 2024 and 26 February 2024 respectively.

The Suit was arising from Construction Industry Payment and Adjudication Act 2012 (“CIPPA”) claims by sub-contractors totalling RM1,593,955.22.

The Board is currently investigating, sourcing, retrieving the relevant documents in respect of the Suit (“Documents”) and will make further announcement to Bursa Malaysia Securities Berhad after procuring such Documents.

(ii.) Kuala Lumpur Sessions Court (North Line Sdn Bhd vs EVDE)

The Court awarded Judgement in Default of Appearance for RM600,291.85 as claimed by North Line Sdn Bhd.

As the Board was not provided with full details of the abovementioned litigations prior to the meeting held on 10 January 2024 to make a timely announcement, the Directors decided to release the aforesaid information for the interim period pending the outcome of the internal enquiries, investigation, settlement with sub-contractors as well as further engagement with the Company’s solicitors.

The Company will make further announcement on the development of the aforesaid litigations accordingly.

This announcement is dated 11 January 2024.