We refer to our announcement dated 22 December 2023 in relation to the Statutory Demand. Unless otherwise defined, all definitions used throughout this announcement shall have the same meaning as defined in our said earlier announcement.

The Board of Directors (the “Board”) of the Company wishes to inform that the Defendant has failed to comply with the Statutory Demand served to the Defendant on 22 December 2023 and the stipulated timeframe as stated in the Statutory Demand had lapsed upon the expiration of twenty one (21) days from the date of service of the Statutory Demand. Therefore, the Defendant was deemed insolvent and unable to pay its debts pursuant to Section 466(1)(a) of the Companies Act 2016.

In view thereof, Ecoscience Manufacturing & Engineering Sdn. Bhd., (the “Plaintiff” or the “Petitioner”), the Company’s wholly-owned subsidiary, had on 29 January 2024 served a Winding-Up Petition on the Defendant in the High Court of Malaya at Shah Alam via Companies Winding-Up Petition No. BA-28NCC-57-01/2024.

Further to that, the Board of the Company wishes to update that the above Petition has been set for case management before the Deputy Registrar via online (e-Review) on 7 March 2024 and for hearing before the Judge on 29 May 2024.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof and/or upon receipt of any further directions by the Court.

This announcement is dated 2 February 2024.