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.

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 4 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 1 April 2021 in relation to the Company’s regularisation plan:

(i) Approval of the shareholders of BHB for the proposed private placement of up to 70,885,600 new ordinary shares in the Company, at the extraordinary general meeting convened on 21 April 2021; and

(ii) Announcement on 22 April 2021 of the receipt of a letter of demand claiming for a total sum of RM49,880,001.41 by OCBC Al-Amin Bank Berhad. The Board was unable to provide a statement as to whether the Company is solvent as required under Appendix 9(A) Part H(A) of the Listing Requirements.

     In view of the foregoing, the Company has further triggered the prescribed criteria under Paragraph 2.1(f) of PN17 of the Listing Requirements.

This announcement is dated 3 May 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 there are no material developments on the status of default in payment at the date of this announcement.

This announcement is dated 3 May 2021.