Reference is made to the earlier announcements dated 12 November 2024 and 25 November 2024 (the “Announcements”) in respect of the Counterclaim filed by CN Eleco Engineering Sdn. Bhd. (“CN Eleco” or “Defendant”) against MIE Industrial Sdn. Bhd. (“MIE” or “Plaintiff”) and Seremban Engineering Berhad (“SEB” or the “Company”). Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the Announcements.

The Board of Directors of SEB wishes to update that SEB had on even date, recorded the draft order for Security for Costs with the Court. CN Eleco has twenty-one (21) working days from the date of draft order, to deposit the sum of RM100,000.00 with their solicitors as stakeholders.

In the interim, the Court has directed the parties to continue with the compilation of documents for the trial of the matter. The Case Management for this is fixed on 11 June 2025.

The Company will make further announcement(s) as and when there are material developments in relation thereof.

This announcement is dated 24 March 2025.