The Board of Directors of the Company had approved the change of financial year end of the Company from 31 December 2023 to 30 June 2024, to provide adequate time for the management team to implement internal restructuring of the Company and its subsidiaries ("Group"), and to facilitate the ongoing Proposed Capital Reduction, Proposed Debt Settlement, Proposed Share Consolidation and Proposed Rights Issue with Warrants which will better reflect the Group's financial position.