BRAHIM’S HOLDINGS BERHAD (“BHB” OR THE COMPANY”) DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (DEFAULT IN PAYMENT TO OCBC AL-AMIN BANK BERHAD)

We refer to the default in payment announcement dated 22 April 2021 (“Default in Payment Announcement”) and the subsequent monthly announcements in relation to BHB’s default in payment in its banking facilities. 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 of demand from Shook Lin & Bok, the appointed solicitor for OCBC Al-Amin Bank Berhad (“OCBC”), dated 16 March 2022. OCBC’s claim against BHB via the letter of demand are as follows:-

1. The outstanding rental sum of RM62,033,341.64 as at 28 February 2022 and RM75.00; and
2. BHB is given 7 (seven) days from the date hereon, to settle the said payment, failing which OCBC shall have no option but be compelled to declare and demand that the secured amount to be immediately due and payable.

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 18 March 2022.