We refer to the announcements made by the Company on 26 November 2013, 6 December 2013, 2 January 2014, 4 February 2014, 3 March 2014, 5 March 2014, 1 April 2014, 2 May 2014, 2 June 2014, 1 July 2014, 16 July 2014, 25 July 2014, 2 September 2014, 1 October 2014, 3 November 2014, 26 November 2014, 1 December 2014, 2 January 2015, 9 January 2015, 4 February 2015 and 11 February 2015 in relation to the Company being classified as an affected listed issuer under Practice Note 17 of the Listing Requirements of Bursa Malaysia Securities Berhad.
As announced on 11 February 2015, the Company had entered into a Memorandum of Agreement (“MOA”) with Zhiyuan Investment Group Co Ltd (“Zhiyuan”) to explore the possibility of Zhiyuan’s participation in PHB and/or via other business cooperation model to revive PHB. Zhiyuan is currently undertaking its due diligence on PHB and it has two (2) months to complete the due diligence exercise from the date of the MOA.
The Company is still formulating its regularisation plans and there are no material developments since the announcement made previously on 11 February 2015. The Company has approximately one (1) month to submit its regularisation plan to the relevant authorities.
This announcement is dated 2 March 2015.