Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of SESB wishes to announce that Messrs Crowe Malaysia PLT (the “Independent Auditors”), the external auditors of the Company, has expressed a “Disclaimer of Opinion” in their audit report in respect of the financial statements of the Company and its subsidiaries (“the Group”) for the financial year ended 30 June 2024 (“Financial Statements”).

The extract of the Basis of Disclaimer Opinion in the Independent Auditors’ Report in the Company’s Financial Statements is attached. In relation to the steps taken by the Company with regards to the material uncertainty on the Company’s ability to continue as a going concern, the Company wishes to update that the Company is in a preliminary discussion with a White Knight to formulate a Regularisation Plan to be submitted before 31 January 2025.

In the event of any material development, SESB will make an announcement accordingly.

Barring any unforeseen circumstances, the Group expects to resolve the Disclaimer of Opinion issues raised by the Independent Auditors in the current financial year.

This announcement is dated on 14 November 2024.