We refer to the previous monthly announcements in relation to BHB’s default in payment in its banking facilities.

The Board of Directors of the Company (“Board”) wishes to inform that save as disclosed below, there are no material developments on the status of default in payment at the date of this announcement:

(i) The Company had on 27 July 2021 and 28 July 2021 announced that it had entered into an agreement with MHC Trading (M) Sdn Bhd (“MHC”) for the proposed outsourcing of management and operations of Tamadam Industries Sdn Bhd (“Tamadam”), a wholly owned subsidiary of the Company (“Proposed Outsourcing”) (“Announcements”). The Company had received a proposal from MHC to turn around and grow the business of Tamadam in view of Tamadam’s existing operational inefficiencies. Based on this agreement, the profits generated from Tamadam will initially be used for the full repayment of BHB’s overdue loan with OCBC Al-Amin Bank Berhad (“Bank”), of which the outstanding amount as at 27 July 2021 is RM75 million, based on a stipulated repayment schedule as mentioned in the Announcements within 3 years. Nonetheless, it should be noted that the repayment will be undertaken on a best efforts basis by the new management of Tamadam, and no guarantee will be provided. In addition, this repayment proposal is also subject to the agreement of the Bank. Please refer to the Announcements for further information on the Proposed Outsourcing.

This announcement is dated 2 August 2021.

We refer to the previous monthly announcements in relation to the Company being classified as an affected listed issuer pursuant to Practice Note 17 (“PN17”) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”).

The Board of Directors of the Company (“Board”) wishes to inform that the Company is still in the midst of formulating its regularisation plan and has approximately 1 month (until 27 August 2021) to submit its regularisation plan. It is unlikely that the Company will be able to finalise and submit the regularisation plan within this timeframe and as such intends to seek for an extension of time from Bursa Securities.

Save as disclosed below, there were no other major developments subsequent to the previous monthly announcement dated 1 July 2021 in relation to the Company’s regularisation plan:

(i) announcement on 7 July 2021 in relation to the completion of the Company’s private placement of 70,885,600 new ordinary shares; and

(ii) announcements on 27 July 2021 and 28 July 2021 in relation to the outsourcing management agreement entered into between the Company and MHC Trading (M) Sdn Bhd in respect of Tamadam Industries Sdn Bhd, the Company’s wholly-owned subsidiary.

This announcement is dated 2 August 2021.

We refer to the announcement dated 27 July 2021 in relation to the proposed outsourcing arrangement for Tamadam Industries Sdn Bhd (“Announcement”). The Board of Directors wishes to furnish further information relating to the Announcement. Unless otherwise defined, the terms herein shall bear the same meaning as defined in the Announcement.

Pursuant to Section 2.3 of the Announcement, it was announced that the new management team of Tamadam has undertaken to fulfil the Proposed Repayment.  The repayment will be undertaken on a best efforts basis, and no guarantee will be provided. Nonetheless, as mentioned in the Announcement, the Proposed Outsourcing will benefit Brahims as presently, our core business of flight catering is unable to service our borrowings due to insufficient revenues arising from the virtual standstill of the passenger aviation industry. In addition, we wish to reiterate that the overall performance of Tamadam will be reviewed by the Board every 6 months after the new management takes control of Tamadam.

In addition, pursuant to Section 6.6 of the Announcement, it was announced that the Parties to the Agreement shall be entitled to terminate the Agreement if any of the events set out in the Agreement occurs. We wish to clarify that these events refer to the following:

1. If the new management is unable to fulfil the Proposed Repayment based on the repayment schedule;
2. If any Party commits a breach of the Agreement and fail to remedy such breach within 30 days after being given notice by the other Party; or
3. If any Party is to go into liquidation, whether compulsory or voluntary (except for the purpose of a bona fide reconstruction or amalgamation with the consent of the other Party) or if any Party shall have an administrator, receiver or manager appointed over a substantial part of its assets and any such appointment is not discharged within 30 days of its appointment.

This announcement is dated 28 July 2021.

The Board of Directors of the Company (“Board”) wishes to announce that the Company had on 27 July 2021 entered into an agreement (“Agreement”) with MHC Trading (M) Sdn Bhd in respect of Brahim’s wholly-owned subsidiary, Tamadam Industries Sdn Bhd.

Please refer to the attachment for further details of the Agreement.

This announcement is dated 27 July 2021.

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 24 February 2021 in relation to the Private Placement, where applicable, unless stated otherwise or defined herein.)

We refer to the earlier announcements in relation to the Private Placement dated 24 February 2021, 25 February 2021, 22 March 2021 and 29 June 2021.

On behalf of the Board, TA Securities wishes to announce that the Private Placement has been completed following the listing and quotation of 70,885,600 Placement Shares on the Main Market of Bursa Securities on 7 July 2021.

This announcement is dated 7 July 2021.

Pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Securities, BHB wishes to announce that the Company has received notification from the following Director in relation to his dealings in the securities of the Company, the details of which are as set out in the table below:-

This announcement is dated 6 July 2021.

We refer to the previous monthly announcements in relation to BHB’s default in payment in its banking facilities.

The Board of Directors of the Company (“Board”) wishes to inform that there are no material developments on the status of default in payment at the date of this announcement.

This announcement is dated 1 July 2021.