We refer to the Company’s announcement made on 6 October 2022.

Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcement.

The Board of MYNEWS wishes to inform that the winding up petition received by Mynews Retail Sdn Bhd (“Mynews Retail”), a wholly owned subsidiary of the Company, was heard by the Judge Dato’ Azmi bin Ariffin in the Shah Alam High Court on 18 October 2022. The Petitioner informed the Court that they intend to withdraw their winding up petition as the indebted amount had been paid. The Respondent’s solicitors, Messrs Tay & Partners, informed the Court that the alleged indebted amount was paid under protest.

Upon hearing the parties, the Court ordered that the winding up petition to be withdrawn with no order as to costs.

We reiterate that the amount allegedly indebted and claimed under the winding up petition was paid to the Petitioner under protest and without admission of liability as per the announcement on 6 October 2022. Mynews Retail shall reserve its rights to claim for any losses and damages suffered against Kumpulan Hamzah Kwong Hing Realty Sdn Bhd.

Further announcement on the development of the abovesaid matter shall be made in accordance with the Main Market Listing Requirements, where applicable.

This announcement is dated 18 October 2022.