PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

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.