The Board of Directors of the Company wishes to provide an update regarding the recent incident at the J Satine condominium construction site in Wangsa Maju (“the Project”). Kuala Lumpur City Hall has issued a stop-work order following reports of structural cracks at the construction site.

As the main contractor for the Project, TCS Construction Sdn Bhd (“TCSC”), a wholly-owned subsidiary of the Company, expresses deep concern over this incident. Initial findings suggest that the building cracks are not caused by the Company.

The Board would like to reaffirm its commitment to upholding the highest standards of safety, quality, and integrity across all projects. TCSC has complied rigorously with all health and safety protocols throughout the construction process, and it is confirmed that no casualties were reported in relation to this incident.

The Company is cooperating fully with the relevant authorities to determine the exact cause and to implement any necessary corrective measures. The Company is committed to keeping stakeholders informed as further information becomes available and as the Company works toward a swift and thorough resolution.

This announcement is dated 11 November 2024.