The Board of Directors of PRG (the "Board") wishes to announce that the Company had on 24 July 2026, received a winding-up petition filed by the solicitors of Dato' Ng Yan Cheng ("Petitioner") with the High Court of Malaya at Kuala Lumpur ("Court") on 22 July 2026 and served on PRG on 24 July 2026 ("Petition").

The Petitioner prays as follows:-

(a) That PRG be wound up by the Court under the provisions of the Companies Act 2016;

(b) That Leoh Hin Han of Sin Han & Co. PLT be appointed as the Liquidator of PRG;

(c) That the costs of the Petition be paid out of the assets of PRG; and

(d) Such further and/or other reliefs that the Court deems just and fit.

The Petitioner claimed that PRG had failed to pay the outstanding sum of RM21,219,000.00 being the advances to the Company, details as set out in the statutory demand pursuant to Section 466(1)(a) of the Companies Act 2016 dated 30 June 2026.

The Company has reached out to Dato' Ng Yan Cheng to restructure the loan but was not able to come to a mutually agreeable settlement.

The Company has also reached out to several professional accounting and legal firms to explore restructuring options and is weighing all viable options for restructuring in the meantime.

The Company will make further announcement(s) on any material development on the above in due course.

This announcement is dated 24 July 2026.