Reference is made to the Company’s announcements on 5 November 2019, 2 December 2019, 2 January 2020, 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020 and 1 October 2020 in compliance with GN3 of the Listing Requirements (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Company had on 7 October 2020, incorporated a new wholly-owned subsidiary, namely Teampixel E-Commerce Sdn Bhd (“TESB”), in Malaysia under the Companies Act 2016 as a private limited company with issued share capital of RM100,000.00 comprising 10,000,000 ordinary shares. TESB is principally engaged in the business of ICT software trading, consultancy, sales and marketing, and provision of general business to business and business to consumer trading through e-commerce platforms and internet social media.

The Company also had on 28 October 2020 announced that its wholly-owned subsidiary, Teampixel Sdn Bhd (“Teampixel”),  entered into a strategic partnership and territorial master distribution agreement with Alpha Plastic Resources Sdn Bhd (“Alpha”) as its distribution partner for the sale and distribution of Alpha’s CHEMCO products (including but not limited to industrial chemicals and materials such as Polypropylene (“PP”) resin, Acrylonitrile Butadiene Styrene (“ABS”) resin and waste electrical & electronic equipment (“WEEE”) raw materials) in Malaysia, Indonesia, Thailand, Cambodia and China with effect from 16 November 2020 (“Agreement”). The Agreement will enable Teampixel to increase the product offering to its customers in particular the WEEE raw materials in addition to PP resin and ABS resin which Teampixel is currently offering.

The Board wishes to inform that there is no material development on the regularisation plans and the GN3 status of the Company. The Board is currently in the midst of evaluating options available to formulate a plan to regularise its financial condition.

The Company has approximately two (2) months until 1 January 2021 to submit the Company’s proposed regularisation plan to the relevant authorities for approval.

This announcement is dated 2 November 2020.