Reference is made to the Company’s announcements dated 29 October 2021, 1 November 2021, 1 December 2021, 3 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 5 May 2022, 1 June 2022, 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 12 October 2022, 2 November 2022 and 1 December 2022 (“Announcements”).

(Unless otherwise stated, all abbreviations and terms used in this announcement shall have the same meanings as those defined in the Announcements.)

The Board of Directors wishes to announce that the Company and the appointed advisers are in the midst of formulating and/or evaluating the proposals to develop the Proposed Regularisation Plan to holistically restructure its business and financial condition.

Pursuant to the announcement dated 2 November 2022 in relation to the approval from Bursa Securities for the extension of time up to 28 April 2023 for the Company to submit its regularisation plan to the relevant regulatory authorities, the Company has approximately four (4) months to submit the Proposed Regularisation Plan to the relevant regulatory authorities for approval to implement the same.

The Company shall make the necessary announcement(s) with regard to any material development thereof accordingly.

This announcement is dated 3 January 2023.