Reference is made to the first announcement made by the Company on 24 December 2019 for being classified as an affected listed corporation pursuant to Rule 8.03A of the Listing Requirements, followed by its subsequent monthly announcements pursuant to Rule 8.03A of the Listing Requirements on the updates and developments.

The Board of Directors of MGRC wishes to inform that the Company is still evaluating on the options available to regularise the Company’s affected listed corporation status.

The Company has approximately 23 days until 23 December 2021 to submit a regularisation plan to the relevant authorities for approval in accordance with the requirements under Rule 8.03A of the Listing Requirements.

Subsequently, MGRC had on 30 November 2021 submitted an application to seek approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time of 6 months, until 23 June 2022, for MGRC to make the requisite announcement and submit its proposed regularisation plan to Bursa Securities.

This announcement is dated 1 December 2021.