The Liquidator wishes to inform shareholders of the status of the liquidation as of to date, the following:-

1. Pending Legal Proceedings

Pursuant to the Order of the High Court of Malaya at Kuala Lumpur (“High Court”) dated 15 August 2022, the Judge had dismissed Raintree F&B Sdn Bhd (“Raintree”)’s application vide Motion No. WA-28PW-626-11/2019 (“Motion 626”), whereby Raintree sought to set aside or vary the Order of the High Court dated 14 October 2019 as obtained by the Liquidator vide Motion No. WA-28PW-382-05/2019.

Subsequently, Raintree had on 24 August 2022 filed an appeal against the decision of the High Court given on 15 August 2022 in Motion 626, to the Court of Appeal, vide Civil Appeal No. W-02(A)-1595-08/2022 (“Appeal 1595”).

Please refer to the Company’s announcements dated 7 October 2021, 22 October 2021, 11 November 2021, 30 November 2021, 7 December 2021, 21 December 2021, 14 March 2022, 17 March 2022, 4 April 2022, 28 April 2022, 24 May 2022, 13 June 2022, 8 July 2022, 16 August 2022, 1 September 2022 and 24 November 2022 for more details. Appeal 1595 has been fixed for case management on 18 April 2023 and fixed for hearing on 2 May 2023.

2. Receipts and Payments (“R&P”)

The Liquidator had lodged “Liquidator’s Account of Receipts & Payments and Statements of the Position in the Winding-up” with the Companies Commission of Malaysia on 26 January 2023.

A summary of R&P for the period from 16 January 2022 to 15 January 2023 is set out below:-

Note:-

* - The refund was made by the Registrar for cheque processing fee.

^ - Including expenses for Bursa listing fee, legal fees and other professional charges.

Kindly be informed that the final distribution and the conclusion of the winding-up is pending the completion of, inter alia but not limited to, the satisfactory conclusion of tax and legal proceedings.

This announcement is dated 13 February 2023.