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.