INTRODUCTION

The Board of Directors of the Company wishes to announce that the Company has taken legal proceedings against Lim Kok Hoong (1st Defendant) and Sew Choon Onn (2nd Defendant) (collectively known as “Defendants”) through their Solicitors, Messrs. Kai & Co vide a Writ of Summons bearing Suit No. BB-B52NCC-49-04/2025 (“Writ”) and a Statement of Claim both dated 14 April 2025 (“SOC”) at the Sessions Court of Petaling Jaya in the state of Selangor which received by the Company on 2 May 2025 for the dispute concerning a Memorandum of Understanding in relation to the purchase of all shares held by the Defendants in Aircomaster Sdn. Bhd. (“Acquisition”) dated 21 May 2019 entered into between the Company and the Defendants.

DETAILS OF CIRCUMSTANCES LEADING TO THE LEGAL PROCEEDINGS

The circumstances leading to the filing of the Writ and SOC by the Company arose from the Defendants have whether jointly and/or severally had failed, refused and/or omitted to remit the balance of the advance earnest deposit for the Acquisition amounted to RM500,000.00 after the Company being informed by the 1st Defendant that the Acquisition was not successful.

The Company therefore is now claiming the following declarations and orders from the Defendants through the Writ and SOC:

(a) an order for the Defendants whether jointly and/or singly to pay the Company a total of RM500,000.00 to the Company or the Company’s solicitors within seven (7) days from this order;

(b) a declaration that the Company is entitled to trace and/or to conduct an inquiry upon the Defendants in respect of the recovery of the RM500,000.00;

(c) interest calculated at 4% per annum in respect of the total RM500,000.00 calculated from 10 March 2020 till the date of judgment;

(d) interest calculated at 5% per annum in respect of the total RM500,000.00 calculated from the date of filing of this action to the date of full and final settlement;

(e) general damages to be assessed;

(f) aggravated damages;

(g) exemplary damages; and

(h) such further or other relief as this Honourable Court may deem fit.

THE STEPS TAKEN AND/OR PROPOSED TO BE TAKEN IN RESPECT OF THE WRIT AND SOC

The first case management is scheduled for 20 May 2025.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof and/or upon receipt of any further directions by the Court.

This announcement is dated 5 May 2025.