Reference is made to the Company’s announcements dated 14 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 5 May 2022, 1 June 2022, 1 July 2022, 1 August 2022,1 September 2022, 3 October 2022, 1 November 2022, 4 November 2022 and 29 November 2022 (“Announcements”).

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

Pursuant to paragraph 4.1(c) of PN17 of the Main LR, the Board of Directors of the Company wishes to announce that the Company is in the midst of formulating a regularisation plan to address its financial condition. 

The Company has approximately 1 month to submit its regularisation plan to the relevant regulatory authorities for approval to implement the same.

As announced on 29 November 2022, the Company has applied to Bursa Securities for an extension of time of six (6) months to submit its regularisation plan. The application for extension of time is pending Bursa Securities’ decision and the Company shall make the necessary announcement(s) regarding the development thereof accordingly.

This announcement is dated 1 December 2022.