Reference is made to the Company’s announcements dated 7 October 2021, 22 October 2021, 11 November 2021, 30 November 2021, 7 December 2021, 21 December 2021, 14 March 2022, 17 March 2022, 4 April 2022, 28 April 2022, 24 May 2022, 13 June 2022, 8 July 2022, 16 August 2022, 1 September 2022, 24 November 2022, 18 April 2023, 20 September 2023,19 October 2023, 24 November 2023 and 11 December 2023.

The Liquidator wishes to update shareholders on the following:

1.  Legal Proceedings

In relation to Raintree’s Motion (for leave to appeal to the Federal Court) which was fixed for hearing on 11 March 2024, the Federal Court, after hearing the submissions of the counsels acting for Raintree, Securities Commission and the Liquidator respectively, has unanimously dismissed Raintree’s Motion.

2.  Receipts and Payments (“R&P”)

A summary of R&P for the period from 16 January 2023 to 15 January 2024 is set out below:-

^ - Including expenses for Bursa listing fee, liquidator’s fee, legal fees and other charges.

3.  Final Distribution

Kindly be informed that the final distribution to the entitled shareholders and the conclusion of the winding-up is pending the completion of, inter alia but not limited to, the satisfactory conclusion of tax position of the Company. Further details on final distribution will be announced in due course.

This announcement is dated 13 March 2024.