We refer to the announcements dated 9 April 2024 and 14 March 2025 ("earlier announcements") on the subject 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 that the 1st Defendant had received a notice pursuant to Section 466(1)(a) of the Companies Act 2016 from Messrs Tang & Partners, the solicitors acting for Hong Leong Bank Berhad, demanding that the 1st Defendant pay the Plaintiff pursuant to the Judgement obtained against the 1st Defendant on 13 March 2025 in the High Court of Sabah & Sarawak at Kuching Suit No. KCH-22NCvC-19-4/2024 the sum as follows:-

(a) The sum of RM2,500,745.23 as at 14 February 2024;

(b) Interests thereon calculated on the principal sum of RM2,228,000.00 at the rate of 3.50% per annum above the Plaintiff’s Base Lending Rate (which as at 14-2-2024 is 6.89% per annum, and such Base Lending Rate which may be fixed from time to time) from 15-2-2024 onwards until full settlement;

(c) Costs in the sum of RM5,000.00 to be paid by the 1st Defendant to the Plaintiff subject to allocator fee.

Universal Cable (Sarawak) Sdn Bhd is taking legal steps to respond to Messrs Tang & Partners.

The Company will make further announcements as and when there are material developments on the above matter.

This announcement is dated 16 June 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.