Reference is made to the Company’s announcement dated 31 October 2022 in relation to the admission of the Company into Practice Note 17.

The Board of Directors of the Company wishes to announce that on 26 April 2024, the Company and KNM Process Systems Sdn Bhd (collectively referred to as the “Applicants”) have filed an application to the High Court of Kuala Lumpur under Sections 366 and 368 of the Companies Act (“CA”) 2016 to sanction a new Proposed Scheme of Arrangement with its creditors and for a Restraining Order pursuant to Section 368(1) of the CA 2016.

Upon the filing of the above application an automatic moratorium under Section 368(1A) of the Companies (Amendment) Act 2024 is granted to the Applicants from the date of filing of the application on 26 April 2024 for a maximum of two months or until the High Court decides on the application, whichever is earlier that –

(a) no order may be made, and no resolution may be passed, for the winding up of the Applicants;

(b) no receiver or receiver and manager may be appointed over any undertaking or property of the Applicants;

(c) no proceedings may be commenced or continued against the Applicants other than the proceedings under Section 366, 368c, 368d, 369a or 370 of the CA 2016 except with the leave of the Court and subject to any terms as the Court may impose;

(d) no execution, distress or other legal process may be commenced, continued or levied against any property of the Applicants except with the leave of the Court and subject to any terms as the Court may impose;

(e) no steps may be taken to enforce any security over any property of the Applicants, or to repossess any goods held by the Applicants under any chattels leasing agreement, hire purchase agreement or retention of title agreement, except with the leave of the Court and subject to any terms as the Court may impose; and

(f) no right of re‑entry or forfeiture under any lease in respect of any premises occupied by the Applicants may be enforced except with the leave of the Court and subject to any terms as the Court may impose.

Further development in relation to the Scheme of Arrangement and the Restraining Order will be announced in due course.

This announcement is dated 26 April 2024.