Unless otherwise defined, all abbreviations and definitions used herein shall have the same meaning as defined in the Company's announcements on 10 October 2023, 14 December 2023 and 30 January 2024.

The Company wishes to announce the updates from the hearing of the following Petitions on 7 March 2024:-

1. Winding Up Petition No: WA-28NCC-991-10/2023 OCBC Bank (Malaysia) Berhad -VS- Universal Cable (M) Berhad (“Petition 1”) (“Suit 991”)
2. Winding Up Petition No: WA-28NCC-992-10/2023 OCBC Bank (Malaysia) Berhad -VS- Leader Cable Industry Berhad (“Petition 2”) (“Suit 992”)

Suit 991
The Honourable Court has ruled and directed for the Petitioner's Winding Up Petition ("Enclosure 1"), the Respondent's Summon In Chambers to Stay the Proceeding ("Enclosure 42"), and Hong Leong Bank Islamic Berhad's Notice of Motion to Intervene the Proceeding ("Enclosure 66") as follows:-
Decision for Enclosure 66:-
Since the Petitioner and other supporting creditors, such as OCBC Al-Amin Bank Berhad, Malayan Banking Berhad, Maybank Islamic Berhad, and CIMB Bank Berhad have no objection to Enclosure 66, Enclosure 66 is allowed with no order as to costs.
Directions for Enclosure 1:-
1. Hong Leong Bank Islamic Berhad, i.e. the Proposed Intervener is to file their affidavit in reply by 21 March 2024; and
2. The Petitioner is to file their affidavit in reply by 28 March 2024. 

A case management has been fixed for 29 April 2024 to update the Honourable Court on the filing status of Enclosure 1 and the clarification and/or decision for Enclosure 1 and 42 have been fixed for 15 May 2024. 

Suit 992

The Honourable Court has ruled and directed for the Petitioner's Winding Up Petition ("Enclosure 1"), the Respondent's earlier Summon in Chambers to Stay the Proceeding ("Enclosure 19"), the Respondent's Summon In Chambers to Stay the Proceeding ("Enclosure 67"), and Hong Leong Bank Islamic Berhad's Notice of Motion to Intervene the Proceeding ("Enclosure 94") as follows:-
Decision for Enclosure 19:-
Enclosure 19 be struck off with no order as to costs due to the previous solicitor of the Respondent, namely Messrs Dinesh Ratnarajah Partnership's position not to proceed with Enclosure 19.
Decision for Enclosure 94:-
Since the Petitioner and other supporting creditors, such as OCBC Al-Amin Bank Berhad, Malayan Banking Berhad, Maybank Islamic Berhad, and CIMB Bank Berhad have no objection to Enclosure 94, Enclosure 94 is allowed with no order as to costs.

Directions for Enclosure 1:-
1. Hong Leong Bank Islamic Berhad, i.e. the Proposed Intervener is to file their affidavit in reply by 21 March 2024; and
2. The Petitioner is to file their affidavit in reply by 28 March 2024. 

A case management has been fixed for 29 April 2024 to update the Honourable Court on the filing status of Enclosure 1 and the clarification and/or decision for Enclosure 1 and 67 have been fixed for 15 May 2024. 

The Company will make the necessary announcements on the development of the above matter accordingly.

This announcement is dated 7 March 2024.