Further to the First announcement dated 26 February 2016 and the subsequent announcements made by the Company on 29 February 2016, 1 March 2016, 6 April 2016,13 May 2016, 1 June 2016, 1 July 2016, 1 August 2016,1 September 2016, 4 October 2016, 1 November 2016,1 December 2016, 3 January 2017, 3 February 2017 and 2 March 2017, respectively.

As announced previously, the Company had on 6 March 2017, entered into a non-legally binding Memorandum of Understanding (“MOU”), except as specifically set out in the MOU, with Lim Kuan Joo, Ismail Bin M. Shuhud (“Vendors”) and a new company to be incorporated by the Vendors and to assume the listing status of the Company at a later date (“NewCo”) in relation to a proposed reverse take-over of the Company by the Vendors, which entails the Proposed Regularisation Plan and the Proposed Scheme of Arrangement with Creditors.

Bursa Malaysia Securities Berhad ("Bursa Securities”) has also granted the Company an extension of time up to 26 August 2017 to submit the regularisation plan to the regulatory authorities subject to the Requisite Announcement being made by 16 June 2017.

Further announcement in relation to the development of the above matter will be made in due course.

This announcement is dated 3 April 2017.