Unless otherwise stated, all abbreviations used in this announcement shall have the same meanings as those used in the announcement dated 26 May 2026.

Further to our announcement dated 26 May 2026, the Board of Directors ("Board") of the Company wishes to furnish the following additional information pertaining to the above matter:

1. To specify the roles of OVE ("First Defendant") and Stellar Star Engineering & Construction Sdn. Bhd. ("Second Defendant") in BAGSF-2 project and to state the current status of completion of the said Project.

    

   OVE is the subcontractor for civil, building and pilling works for the BAGSF-2 project appointed by Petrofac Engineering Services (Malaysia) Sdn. Bhd. ("Petrofac"). The Second Defendant is appointed by OVE for the provision of manpower supply for project management and site management activities, comprising project leadership, engineering, planning, procurement, quality assurance and quality control (QA/QC), safety, administration, construction supervision personnel and construction works.

    

   BAGSF-2 project is at close-out phase with no site works.

    

2. To confirm whether OVE is a major subsidiary of the Company by clearly stating the percentage of its contribution to the Company's consolidated profit before tax or total assets employed as defined under Paragraph 1.01 of the ACE Market Listing Requirements ("ACELR") of Bursa Malaysia Securities Berhad.

    

   OVE, Registration No. 201101018034 (946170-W), a company incorporated in Malaysia with its registered address at Lot 6073 & 6074, 1^st & 2^nd Floor, Block 11, Kuala Baram Land District, Jalan Tudan, Bandar Baru Permyjaya, 98000 Miri, Sarawak, Malaysia.

    

   As at the date of this announcement, the issued share capital of OVE is RM1,500,000.00, comprising 1,500,000 ordinary shares.

    

   The principal activities of the OVE are provision of offshore and onshore project management, engineering, procurement and construction (EPC), supply of manpower, materials, tools and equipment and drilling rig charter services, provision of renewable energy and related services for the purpose of minimising the degradation of environment or reducing greenhouse emission and provision of mechanical and electrical engineering for plant or equipment, repair and overhaul of equipment and mechanical engineering.

    

   The sole Board of OVE is Mr. Kenny Ronald Ngalin.

    

   The sole shareholder of OVE and its shareholdings are as follows:

    

   Name of Shareholder	No. of ordinary shares held	Shareholdings (%)
   OVH	1,500,000	100.00
   Total:	1,500,000	100.00

    

   OVE contributed approximately 229% to the Company's consolidated profit before tax for the financial year ended 31 December 2025, primarily due to losses incurred by other subsidiaries within the OVH group of companies ("OVH Group"), thereby making it a major subsidiary of the Company as defined under Paragraph 1.01 of the ACELR.

    

3. To state the reason for the delay in making an immediate announcement upon receipt of the lawsuit.

    

   The Company had received a total of seven (7) separate claims filed by the same solicitors, all of which relate to the same underlying project and involve overlapping factual and legal considerations. Given the multiplicity and interrelated nature of the claims, the Company required reasonable time to assess the nature, scope and interrelationship of the claims, including the potential financial and operational implications to OVH Group, and to ascertain the appropriate disclosure obligations under the ACELR.

    

   In addition, the Company had undertaken consultations with its solicitors to review the relevant legal and factual matters to ensure that the information disclosed to the market would be complete, accurate and not misleading, taking into consideration the aggregate exposure arising from the claims and their interrelated nature.

This announcement is dated 28 May 2026