Reference is made to the announcements made by the Company on 21 May 2019, 1 July 2019, 1 August 2019, 23 August 2019, 3 September 2019, 1 October 2019, 1 November 2019, 2 December 2019, 2 January 2020, 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 18 May 2020, 1 June 2020, 1 July 2020, 3 August 2020,1 September 2020, 1 October 2020, 2 November 2020, 1 December 2020, 4 January 2021, 2 February 2021, 1 March 2021 and 1 April 2021 in relation to the default in payment pursuant to Paragraph 9.19A of the Listing Requirements.

Reference also is made to the announcements made by the Company on 19 February 2021, 15 March 2021, 5 April 2021 and 26 April 2021 in relation to the Proposed Debt Settlement of its wholly owned subsidiary, PBJV Group Sdn. Bhd. (“PBJV”).

The Board wishes to inform that as the Proposed Debt Settlement has been approved by PBJV’s creditors and also the court (“Approved Scheme”), the default in payment of the loan facility to Export-Import Bank of Malaysia Berhad (“EXIM Bank”) has therefore been addressed under the Approved Scheme. The Company is in the midst of finalizing the legal documentation and making payments in accordance with the Approved Scheme to relevant creditors, including EXIM Bank.

Further announcements will be made as and when necessary to Bursa Securities with regard to the above matter.

This announcement is dated 3 May 2021.