Refer to the Company’s announcements made on 9 June 2025, 10 June 2025, 11 June 2025 and 19 June 2025

The Company wishes to announce the matter is heard before YA Tuan Suhendran Socknathan, today (23 June 2025).

Parties attended Court on 23 June 2025 for Hearing of Hearing of Enclosure 28 (Seacera Group Berhad’s (“SGB”) Application to an Ad Interim Stay of the Winding Up Order). Concurrently, a case management via E-Review for Enclosure 1 (Seacera Group Berhad’s (“SGB”) Application to Stay the Winding Up Order), Enclosure 10 (SGB’s Application for Leave to amend Enclosure 1), and Enclosure 16 (SGB’s Application for Leave to file Supplemental Affidavits) was held wherein directions from the Court were given after the Hearing for Enclosure 28 ended.

The learned High Court Judge took note of the preliminary objections raised by the Respondent, “Supporting Creditor” and Official Receiver on the and in the meantime, will allow SGB to provide evidence of authorisation by SGB’s Board of Director given to Mr Sui Seng Loong (the deponent) to affirm affidavits and file Encl. 28 on behalf of SGB – this was undertaken by SGB’s solicitors as well. The learned High Court Judge acknowledges that the Board of Directors of SGB has residual power to file applications post winding-up.

The learned High Court Judge took note that the Contributories’ (Fintec Global Limited and Asiabio Capital Sdn Bhd) application for the Winding Up Order to be stayed pending the filing and/or disposal of an intended application under Section 493 of the Companies Act 2016 (to seek a termination of the Winding Up Order against SGB) - WA-28PW-279-06/2025 as well as their solicitor’s submissions and acknowledges, agrees, and directed that a solvency report be produced and filed within 4 weeks. The learned High Court Judge also noted that both applications filed by SGB’s and the Contributories’ solicitors are on different grounds.

After hearing the submissions of all parties, the learned High Court Judge scheduled a Hearing for the decision of Enclosure 28 on 15 July 2025.

Separately and further to the above, during the Case Management for Enclosures 1, 10, and 16 before the Senior Assistant Registrar, the Court directed that:

(a)   Respondent & “Supporting Creditor” to file Affidavit in Reply by 7 July 2025;

(b)   Applicant to file Affidavit in Reply to the Respondent’s and Supporting Creditor’s affidavits by 21 July 2025;

(c)   The next ⁠⁠Case Management via E-Review is presently scheduled on 23 July 2025 at 9:00am.

This announcement is made today on 23 June 2025.