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 19 July 2024, the HOA Parties have agreed to extend the long stop date of the HOA to 31 January 2025. Please refer to the Company’s announcements dated 21 March 2022, 14 December 2022, 22 March 2023, 21 June 2023, 23 January 2024 and 19 July 2024 for further details of the Proposals.

Bursa Securities had via its letter dated 24 September 2024, allowed the Company’s appeal against the de-listing of the Company and granted the Company a further extension of time until 26 January 2025 (“Extended Timeframe”) to submit a regularisation plan to the relevant authorities for approval, failing which the securities of the Company shall be removed from the Official List of Bursa Securities upon expiry of two (2) market days from the date the Company is notified by Bursa Securities or on such date as may be specified by Bursa Securities.  

Accordingly, the Company has approximately 3 months to submit its regularisation plan to the SC for approval. 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 November 2024.