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 have been working together exclusively to agree on the terms of the definitive agreements to effect the Proposals which is subject to the State Government granting Sinar Bina Infra Sdn Bhd a concession award for the LRT Project. On 23 January 2024, the HOA Parties have agreed to extend the long stop date of the HOA to 31 July 2024. Please refer to the Company’s announcements dated 21 March 2022, 14 December 2022, 22 March 2023, 21 June 2023 and 23 January 2024 for further details of the Proposals.

Bursa Securities had via its letter dated 13 October 2023, granted the Company an extended timeframe until 26 January 2024 to submit a regularisation plan to the relevant authorities for approval (“Extended Timeframe”), failing which the securities of the Company will be suspended and de-listed from the Official List of Bursa Securities (“LC Decision Letter”).

As Nylex had failed to submit the proposed regularisation plan within the Extended Timeframe, the Company has on 26 January 2024 appealed/applied for a further extension of time ("Appeal"). As announced on 29 January 2024, the trading of the securities of the Company has been suspended with effect from 7 February 2024 and the de-listing of the securities of the Company is deferred pending the decision on the Appeal by Bursa Securities.

The Company will make the relevant announcement should there be any material development in relation to its regularisation plan and the Appeal.

This announcement is dated 1 March 2024.