Pursuant to Paragraph 9.28(3) of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Company wishes to announce that the Company is unable to release its Third Quarter Results by 30 November 2017 (“Timeframe”) to Bursa Securities as required under Paragraph 9.22(1) of the MMLR. 

The failure to issue the above Third Quarter Results is due to the following reasons:

1. unable to obtain confirmations from third parties (i.e. bankers, debtors, creditors, courts in China etc) to perform verification checks in relation to all litigation cases involving the subsidiaries of CSL; 

2. unable to contact the two remaining directors i.e. Mr Chan Fung @ Kwan Wing Yin and Mr Angus Kwan Chun Jut. Hence, no Board of Directors' meeting is held to approve the Third Quarter Results; and

3. unable to undertake the necessary assessment on the impact to the CSL’s financial statements and its operations without the issuance of legal opinion report by Zhi Jun Law Firm of Fujian.

At this stage, CSL is unable to ascertain the target date to issue and release its Third Quarter Results to Bursa Securities.

Pursuant to Paragraph 9.28(5) of MMLR, if CSL fails to issue the Third Quarter Results within 5 market days after the expiry of the Timeframe (the last day of this 5 market days shall hereinafter be referred to as “Suspension Deadline”), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of CSL.

The suspension shall be effected on the next market day following the expiry of the Suspension Deadline and will be uplifted on the market day following the issuance of the Third Quarter Results, unless otherwise determined by Bursa Securities. As such, the suspension will be effected on 11 December 2017.

Pursuant to Paragraph 9.28(6) of the MMLR, if CSL fails to issue the Third Quarter Results within 6 months from the expiry of the Timeframe, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against CSL.

Please note that CSL has on 27 November 2017 also announced that it has failed to comply with the Status Updates by 5.00 p.m., Friday, 24 November 2017, as directed by Bursa Securities for which, the trading of CSL's shares will be suspended with effect from 9.00 a.m., Tuesday, 5 December 2017 pursuant to Paragraph 16.02(1)(j) of the MMLR. 

In view of the above, the trading of CSL's shares will be suspended with effect from 9.00 a.m., Tuesday, 5 December 2017. 

This announcement is dated 27 November 2017.