Reference is made to the announcements by the Company dated 1 December 2022, 5 December 2022, 13 December 2022, 27 January 2023, 8 March 2023 and 22 March 2023.

The Company wishes to inform that during the Case Management hearing on 27 June 2023, the legal counsel acting for ACE (“Defendant 3”), now an unrelated party to the Company, informed the Kuala Lumpur High Court (“High Court”) that Defendant 3 had filed a judicial management application earlier. In that connection, all proceedings in relation to this suit are by law stayed pending an order for leave. 

The Company wishes to further inform that the High Court has fixed the date of the next Case Management on 7 September 2023 for Defendant 3 to update the High Court on the status of their judicial management proceedings. 

Further announcements on the development of the above matter will be made to Bursa Malaysia where necessary. 

This announcement is dated 30 June 2023.