Reference is made to the Announcements dated 5 December 2022, 20 January 2023 and 3 May 2023. 

The Board of Directors of the Company wishes to inform that the leave application in respect of the application for Judicial Review (the “Leave Application”) filed by its wholly-owned subsidiary, Apex Securities Berhad (the “Applicant”) has been heard today.

The Company wishes to further inform that after hearing the submissions and considering all cause papers of parties including the affidavits and written submissions, the Learned High Court Judge allowed the Applicant’s Leave Application as the Learned High Court Judge had agreed with the submissions put forth by the Applicant’s counsels and further the Court found that the leave application by the Applicant is not frivolous and has merits. 

The Applicant had sought for a stay of the additional conditions imposed and in this respect the Learned High Court Judge has given directions on the filing of affidavits and written legal submissions by both parties. The High Court has also fixed 19 October 2023 for the hearing of the stay application. 

Further announcements on the development of the above matter will be made to Bursa Malaysia accordingly.
 
This announcement is dated 22 June 2023.