Reference is made to Cabnet’s announcements dated 11 November 2020 in relation to the acceptance of the Islamic Banking Facilities granted by Maybank Islamic Berhad (“the Bank”) to Cabnet Systems (M) Sdn Bhd and Itwin Technology Sdn. Bhd., the Company’s wholly owned subsidiaries(“Announcements”). Unless otherwise stated, the terms used herein shall have the same meanings stated in the Announcements.

The Company wishes to announce that the Bank had subsequently informed that the application for the said financing facilities unable be accommodated due to the absence of approval from Syarikat Jaminan Pembiayaan Perniagaan (“SJPP”) Berhad. 

The non-approval of said financing facilities will not have any material effect to the earnings and net assets of the Cabnet group of companies.

This announcement is dated 2 July 2021.