We refer to the Company’s announcements dated 27 January 2022 and 28 January 2022 in relation to the First Announcement and the subsequent announcements pursuant to Rule 8.03A of the Listing Requirements on the updates and developments. Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as those used in the said announcements.

The Board wishes to inform that the Company had on 21 March 2022 announced that the Company has entered into a HOA with Sinar Bina Infra Sdn Bhd, LBS Bina Group Berhad, BTS Group Holdings Public Company Limited and Ancom Nylex Berhad for the collaboration to build and operate the LRT Project. The parties are working together exclusively to agree on the terms of the definitive agreements to effect the Proposals subject to the results of the on-going Feasibility Study. Please refer to the Company’s announcements dated 21 March 2022, 14 December 2022, 22 March 2023 and 21 June 2023 for further details of the Proposals.

The Proposals will form part of the regularisation plan to be undertaken by Nylex to regularise its affected listed issuer status. The regularisation plan will result in a significant change in the business direction or policy of Nylex and is subject to the approval of the SC.

The Company had on 18 July 2023 submitted an application to Bursa Securities for an extension of time to submit the regularisation plan but the said application has been rejected by Bursa Securities on 16 August 2023. Bursa Securities had also issued a notice to show cause dated 16 August 2023 to the Company on commencement of suspension and de-listing procedures pursuant to Paragraph 8.03a(3)(b) of the Listing Requirements.

In this respect, the Company has on 25 August 2023 submitted the written representations to Bursa Securities in relation to (a) why a suspension should not be imposed on the trading of the securities of the Company; and (b) why the securities of the Company should not be de-listed from the Official List of Bursa Securities (“Written Representations”).

The Company will make further announcement to Bursa Securities immediately upon any development/update in respect of the above.

This announcement is dated 2 October 2023.