Reference is made to the announcement dated 21 May 2021, 19 November 2021, 17 February 2023, 11 January 2023 and 10 April 2023 in relation to the scheme of arrangement proceedings filed by both AMRB and Alam Maritim (M) Sdn Bhd (“AMSB”) (collectively “Applicants”).

The Board of Directors of AMRB wishes to announce that on 25 October 2023, the High Court of Malaya at Kuala Lumpur had granted in favour of the Applicants the following Orders pursuant to sections 366 and 368 of the Companies Act (“Act”):

1. An order pursuant to section 366(1) of the Act to summon meetings of the creditors of the Applicants or any class of them for the purpose of considering and, if thought fit, approving     with or without modification a scheme of arrangement and compromise proposed between the Applicants and the scheme creditors;

2. That the Applicants be at liberty to fix the date, time and venue of the scheme meetings within three (3) months from 25 October 2023; and

3. A restraining order pursuant to section 368(1) of the Companies Act 2016, whereby all current and further proceedings in any legal actions or proceedings against AMSB and/or the        assets of AMSB be restrained and stayed except by leave of Court for a period of three (3) months from 25 October 2023.

The Orders granted by the High Court were obtained as part of AMRB’s overall restructuring and rehabilitation plan by way of a proposed scheme of arrangement with its creditors. AMRB has appointed BDO Capital Consultants Sdn Bhd as its financial advisors to assist in this proposed scheme of arrangement.

The restraining order is not envisaged to have any material financial and operational impact to AMRB and AMSB.

Further developments on the above matter will be announced to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 25 October 2023.