We refer to the Company’s following earlier announcements made in relation to the Company being classified as a PN 17 Issuer pursuant to Practice Note 17 of Listing Requirements of Bursa Securities:-

(i) first announcement dated 17 May 2019 and 21 May 2019 (“First Announcements”); and

(ii) the subsequent announcements dated 3 June 2019, 1 July 2019, 1 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, 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, 1 April 2021, 3 May 2021, 1 June 2021, 1 July 2021, 2 August 2021, 1 September 2021, 1 October 2021,  1 November 2021, 10 November 2021, 29 November 2021, 1 December 2021, 7 December 2021, 3 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 28 April 2022, 5 May 2022,  1 June 2022, 10 June 2022, 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 1 November 2022, 8 November 2022, 14 November 2022, 1 December 2022, 3 January 2023, 2 February 2023, 20 February 2023, 1 March 2023, 3 April 2023, 2 May 2023, 25 May 2023, 1 June 2023, 3 July 2023, 1 August 2023, 1 September 2023, 2 October 2023, 30 October 2023, 1 November 2023, 22 November 2023, 1 December 2023, 2 January 2024, 2 February 2024 and 1 March 2024.

(collectively, referred to as the “Earlier Announcements”).

The terms herein shall bear the same meaning as defined in the Earlier Announcements.

On behalf of the Board, Malacca Securities wishes to inform that the Company is still in the midst of formulating the regularisation plan.

Bursa Securities had vide its letter dated 21 November 2023 approved an extension of time up to 30 April 2024 for Barakah to submit its regularisation plan to the relevant regulatory authorities.

Further announcement will be made to Bursa Securities with regards to the material development on the regularisation plan in due course.

For information, the Company had on 25 March 2024 obtained the Company shareholders’ approval for the proposed disposal of the Kota Laksamana 101 Barge (“Proposed Disposal”) at an extraordinary general meeting. The Proposed Disposal is ongoing. Further details in relation to the Proposed Disposal, please refer to circular to shareholders dated 8 March 2024.

On 26 March 2024, the Company had announced that Export-Import Bank of Malaysia Berhad has granted Barakah Group an extension of time until 31 October 2024 for the settlement of amounts owing to them in relation to Kota Laksamana 101 Ltd. The extension of time will facilitate the completion of the Proposed Disposal and thereafter the repayment to Export-Import Bank of Malaysia Berhad.

This announcement is dated 1 April 2024.