Reference is made to the First Announcement of 31st October 2022 made by the Company in relation to the Company being classified as PN17 affected listed issuer and the announcements of 1st December 2022 and 3rd January 2023 pursuant to the requirements under PN17 (“Announcements”).

Pursuant to Paragraph 4.1(b) of PN17, the Board of Directors of the Company wishes to inform that the Company is formulating a Regularisation Plan which will not result in significant change in the business direction or policy of the Company.

The Company has approximately nine (9) months to submit its Regularisation Plan to the relevant authorities for approval and any further developments of the Regularisation Plan shall be announced according by the Company.

This announcement is dated 31 January 2023.