We refer to our Announcements dated 31 May 2022 (“the First Announcement”), 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 1 November 2022, 1 December 2022, 3 January 2023, 2 February 2023, 1 March 2023, 30 March 2023, 3 April 2023, 2 May 2023 and 19 May 2023 in relation to the Company being classified as an affected listed issuer and the disclosure requirements under Paragraph 4.1(c) of PN17.

The Board of Directors of the Company wishes to provide a status update on the Company’s efforts to address its PN17 status. On 19 May 2023, MIDF Amanah Investment Bank Berhad had, on behalf of the Board of Directors of SEB, announced that the Company submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time (“EOT Application”) to submit its proposed regularisation plan (“Regularisation Plan”). As at 1 June 2023, the EOT Application is pending Bursa Securities’ decision. An announcement in relation to the outcome of the EOT Application will be released in due course. Since the First Announcement, the Company together with its appointed advisers have been developing and finetuning its Regularisation Plan to holistically restructure the business and financial position of its group of companies. On 26 May 2023, Ernst & Young PLT, being the Company’s external auditor for the financial year ended 31 January 2023 (“FYE 2023”) did not express any adverse or disclaimer opinion on the Company’s audited financial statements for FYE 2023.

This announcement is dated 1 June 2023.