Reference is made to the announcements dated 11 November 2020 in relation to the Heads of Agreement (“HOA”) entered between Brahim’s SATS Food Services Sdn. Bhd. and Focus Dynamics Centre Sdn. Bhd. (“both parties”).

The Board of Directors of BHB wishes to announce that both parties realised that the 6 months’ timeline has lapsed on 11 May 2021 but based on the understanding and mutual agreement by both parties, both parties can indeed proceed with definitive/commercial agreement if it find to be fit.

Presently, both parties are still discussing and negotiating few salient terms for conclusion of the definitive/commercial agreement.

This announcement is dated 24 June 2021.

We refer to the default in payment announcement dated 22 April 2021 (“Default in Payment Announcement”) and the announcement dated 1 June 2021 (“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.

The terms and conditions under the Indulgence Letter to be satisfied by the Company to OCBC Al-Amin Bank Berhad (“OCBC”) are as follows:

(i) Until 1 November 2021 (“Indulgence Period”), BHB shall make monthly payments of RM200,000.00 commencing 21 May 2021 to 21 July 2021 and thereafter, monthly payments of RM300,000.00 commencing 1 August 2021 to 1 November 2021 to OCBC;
(ii) BHB shall provide monthly management accounts of its wholly-owned subsidiary, Tamadam Industries Sdn Bhd (“TISB”), for the period ending 31 May 2021 to 30 September 2021;
(iii) BHB shall provide the audited and management accounts of TISB for the financial year 2020 and period ending 30 April 2021 respectively;
(iv) BHB shall submit a detailed turnaround and expansion plan for TISB together with MHC Trading (M) Sdn Bhd (“MHC”);
(v) BHB shall submit its proposed settlement plan for the financing facilities provided by OCBC and proposed regularisation plan; and
(vi) BHB shall provide a formal valuation report of the property which is currently leased by TISB.

For information purposes, the Company and MHC are presently in discussions for a potential partnership in relation to the operations of TISB. The necessary announcements in relation to this potential partnership will be made in due course.

This announcement is dated 11 June 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 3 months (until 27 August 2021) to submit its regularisation plan.

Save as disclosed below, there were no other major developments subsequent to the previous monthly announcement dated 3 May 2021 in relation to the Company’s regularisation plan:

(i) Reference is made to the Company’s announcement on 11 November 2020 in relation to the Heads of Agreements (“HOA”) entered into between Brahim’s SATS Food Services Sdn Bhd, an indirect subsidiary of the Company, and Focus Dynamics Centre Sdn Bhd (“FDC”). The Board wishes to inform that the HOA has lapsed upon its expiry on 10 May 2021. 

However, both parties are presently negotiating on the terms to be included in the definitive agreement. The Company shall release further announcements once the negotiations between BSFS and FDC are concluded and the definitive agreement is finalised.

(ii) On 21 May 2021, the Company had pursuant to Paragraph 9.19(37) of the Listing Requirements, announced that its external auditors, Messrs Baker Tilly Monteiro Heng PLT had expressed a disclaimer of opinion in the Company’s audited financial statements for the financial year ended 31 December 2020. In view of the above, the Company has further triggered the prescribed criteria under Paragraph 2.1(d) of PN17 of the Listing Requirements.

This announcement is dated 1 June 2021.

We refer to the default in payment announcement dated 22 April 2021 (“Default in Payment Announcement”). Unless otherwise defined, the terms herein shall bear the same meaning as defined in the Default in Payment Announcement.

The Board of Directors of the Company (“Board”) wishes to inform that the Company had received a letter from OCBC Al-Amin Bank Berhad dated 12 May 2021 granting indulgence to withhold legal action against the Company (“Indulgence Letter”). The Indulgence Letter sets out the terms and conditions to be satisfied by the Company until 1 November 2021.

Save as disclosed above, there are no material developments on the status of default in payment at the date of this announcement.

This announcement is dated 1 June 2021.