We refer to the Company's following earlier announcements made in relation to the Company being classified as an affected listed issuer pursuant to PN17 of Listing Requirements:-
(i) first announcement dated 30 April 2023 ("First Announcement"); and
(ii) 30 May 2023, 30 June 2023, 31 July 2023, 28 August 2023, 29 September 2023, 31 October 2023, 30 November 2023, 29 December 2023, 30 January 2024, 29 February 2024, 29 March 2024, 29 April 2024, 2 May 2024, 5 June 2024, 28 June 2024, 30 July 2024, 30 August 2024, 30 September 2024, 25 October 2024, 29 October 2024, 18 November 2024, 28 November 2024, 27 December 2024, 28 January 2025, 25 February 2025, 28 February 2025, 21 March 2025, 2 April 2025, 17 April 2025, 30 April 2025, 2 May 2025, 3 June 2025, 1 July 2025, 1 August 2025, 2 September 2025, 1 October 2025, 3 October 2025, 15 October 2025, 31 October 2025, 3 November 2025, 1 December 2025, 4 December 2025, 2 January 2026, 6 January 2026, 13 January 2026, 30 January 2026, 3 February 2026, 10 February 2026, 13 February 2026, 26 February 2026, 2 March 2026, 27 March 2026, 1 April 2026, 20 April 2026, 21 April 2026, 28 April 2026, 29 April 2026, 4 May 2026, 8 May 2026, 15 May 2026, 21 May 2026 and 25 May 2026.
(collectively, referred to as the "Earlier Announcements").
Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall bear the same meaning as those defined in the Earlier Announcements.
On 8 May 2026, on behalf of the Board, Malacca Securities announced that Zelan Holdings had on 7 May 2026 entered into a debt settlement agreement with MMC Engineering Sdn Bhd ("MMCE") to settle the debts owing to MMCE amounting to RM5,219,415.21 via the transfer of the 2 office units.
On 15 May 2026, the Board had announced that Zelan Holdings had on 15 May 2026 commenced creditors' voluntary liquidation. The Company will make the necessary announcements on any material development in relation to the above matter in due course.
On 21 May 2026, on behalf of the Board, Malacca Securities announced that Bursa Securities had vide its letter dated 21 May 2026, resolved to grant the Company a further extension of time of 3 months up to 31 July 2026 to submit its regularisation plan to the relevant regulatory authorities for approval.
On 25 May 2026, the Company announced that Zelan Construction had during its meeting of member on 25 May 2026 resolved that Zelan Construction cannot by reason of its liabilities continue its business and that it is advisable to wind up the same and that Zelan Construction be wound up by way of a creditors' voluntary winding up pursuant to Section 439(1)(b) of the Companies Act, 2016. Zelan Construction had also during its meeting of creditors on 25 May 2026 resolved that Mr Lim Sin Han and Mr Leoh Hin Han, both of Sin Han & Co. PLT be appointed as the Joint and/or Several Liquidators of Zelan Construction, for the purpose of such winding up. For information, Zelan Construction is no longer the subsidiary of the Company since 29 April 2026.
On behalf of the Board, Malacca Securities wishes to announce that the Company is still in the midst of formulating the regularisation plan.
Further announcements will be made to Bursa Securities with regard to the regularisation plan in due course.
This announcement is dated 3 June 2026.