Reference is made to the Company’s announcement on 1 November 2023 in relation to the appointment of a professional firm to conduct an independent review on the Joint Venture Agreements, Turnkey Construction Agreements and all supplemental agreements, whereby the announcement had included the indicative timeline for the intended appointment on the week of 20 November 2023, and the estimated completion date on the week of 15 April 2024.

The Company wishes to inform that subsequent to the appointment of our new Audit Committee's Chairman on 1 March 2024 and the engagement of our new statutory auditors on 19 March 2024, the Company is now able to advance towards finalizing the appointment of a professional firm.

In view thereof, the Company requires additional time for the Special Independent Review and there will be a revised timeline for the intended appointment and the estimated completion date.

Despite the revised timeline, the Board is committed to ensuring that the Special Independent Review could be completed soonest possible. This includes closely monitoring the progress of the independent review appointment process, providing necessary resources and support to the appointed professional firm, and actively addressing any potential challenges or obstacles that may arise along the way.

This announcement is dated 15 April 2024.