We refer to the announcements dated 10 July 2024, 11 July 2024, 15 July 2024, 9 August 2024, 15 October 2024, 20 November 2024, 22 January 2025, 27 February 2025 and 9 May 2025 ("earlier announcements") on this matter. Unless otherwise defined, the definitions used in this announcement shall have the same meanings as those defined in the earlier announcements. 

The Company wishes to announce the following additional information as follows:

(1)       Enclosure 73 – Interveners’ Notice of Application (Intervener’s Application) by Leader Cable Industry Berhad (In Liquidation) (“LCIB”) and Universal Cable (M) Berhad (In Liquidation) (“UCMB”)

Notice of Application was filed at the Kuala Lumpur High Court on 10 January 2025 by Messrs Shearn Delamore & Co., the solicitors acting for the Liquidators of LCIB and UCMB pursuant to Order 15 Rule 6(2) of the Rules of Court 2012 and/or Rules 12 and 15 of the Companies (Corporate Rescue Mechanism) Rules 2018 and/or Section 407 of the Companies Act 2016 for the following orders:

(a)      that leave be granted to the LCIB and UCMB to intervene and be made party to the proceeding (“Judicial Management Application”);

(b)      that all cause papers filed in the Judicial Management Application be served on the Proposed Interveners as may be necessary;

(c)      Further and/or alternatively:

i. that leave be granted to LCIB and UCMB to file affidavit(s) in response and in opposition to the Judicial Management Application;

ii. that LCIB and UCMB’s Affidavit in Support of the Interveners’ Application filed herein be read and used in opposition of the Judicial Management Application;

(d)      Costs of the application be cost in the cause; and

(e)      Such further orders and other reliefs as may be deemed just and appropriate by the Honourable Court.

(2)       Enclosure 105 – Notice of Application by Hong Leong Islamic Bank Berhad for, inter alia, leave to enforce security over 27,799,707 ordinary shares in LCIB

Notice of Application was filed at the Kuala Lumpur High Court on 30 April 2025 by Messrs Skrine, the solicitors acting for Hong Leong Islamic Bank Berhad (“HLIB”) to apply from the Kuala Lumpur High Court pursuant to Section 410(b) and/or Section 411(4)(d) of the Companies Act 2016 for the following orders: 

(a)      that leave be granted to HLIB to enforce its security over all 27,799,707 ordinary shares (“Shares”) in LCIB currently held in the name of HLB Nominees (Tempatan) Sdn Bhd, which have been charged by the Company in favour of HLIB by a first fixed charge under the Memorandum of Deposit of Stocks, Shares & Securities dated 18 August 2017 between HLIB and the Company;

(b)      that leave be granted for the sale and transfer of the Shares in LCIB currently held in the name of HLB Nominees (Tempatan) Sdn Bhd to MIE Industrial Sdn Bhd pursuant to the Share Sale Agreement dated 25 April 2025 between HLIB and MIE Industrial Sdn Bhd;

(c)      costs of the application be paid by the Company to HLIB; and

(d)      such further and other reliefs that the Honourable Court deems fit.

The applicant of the Judicial Management Application, Messrs Krish Maniam & Co. represented by Messrs Ang & Wong is opposing both the above applications on legal grounds.

Messrs S Ravenesan representing the Interim Judicial Manager will also be opposing both the above applications on legal grounds.

This announcement is dated 14 May 2025.

NOTICE: The affairs, business and property of the Company are being managed by the Interim Judicial Manager appointed by the High Court of Malaya. The Interim Judicial Manager contracts and acts as an agent of the Company and disclaims any personal liability under any contract entered into by the Company which has been adopted by the Interim Judicial Manager and any contract entered into by the Interim Judicial Manager on behalf of the Company.