The Board of Directors (“Board”) of the Company wishes to announce that the Company had on even date received a winding up petition (“Petition”) served against the Company and the subsidiary, One ERP Solutions Sdn. Bhd.  by the Petitioner via his Solicitors, Messrs Sherlene Lai & Co.

The Petition alleges that :-

(a) The Third Respondent and the Fourth Respondent as directors of the Second Respondent have acted in the affairs of the company in their own interests, and not in the interests of the members as a whole and/or have acted unfairly or inequitably to the Petitioner;

(b) There is an irreparable breakdown of trust and confidence between the Petitioner and the Third Respondent as partners who have worked together for more than ten years; and

(c) There are fair and equitable reasons to wind up the First Respondent.

And therefore, the Petitioner is applying for the following orders:-

(1) The First Respondent is to be wound up by the High Court (or the “Court”) in accordance with the provisions of the Companies Act 2016 (“the Act”);

(2) The interim liquidator's salary and/or the liquidator's salary (to be identified) as available under the Act and/or the Companies (Winding-up) Rules 1972 be paid out of the assets of the First Respondent;

(3) The costs of this Petition are paid from the assets of the First Respondent and/or the Second Respondent, Third Respondent and Fourth Respondent jointly and severally to the Petitioner.

(4) Any further orders and/or other relief as the High Court may deem fit and just.

The Court has fixed the matter for case management on 15 July 2025 via e-review and hearing on 31 July 2025 via Zoom.

Save for potential legal fees and court costs incidental to the Petition, there are no financial and operational impacts to the Company and its subsidiaries.

The Board is in the process of seeking legal advice and further announcement on the development of the above matter will be made in due course.

This announcement is dated 7 July 2025.