The Board of Directors of the Company wishes to inform that Grand Dynamic Builders Sdn Bhd ("GDBSB"), a wholly-owned subsidiary of the Company, is informed by its solicitors that Damai City Sdn Bhd (In Receivership) ("DCSB") was ordered by the Shah Alam High Court to be wound up by reason of a winding up petition filed by TSL Victory Sdn Bhd. The Shah Alam High Court also ordered amongst others that Mr Lim Tian Huat and Mr Chiang Teng Guan (both of Rodgers Reidy & Co) be appointed as joint-liquidators of DCSB (in liquidation).

TSL Victory Sdn Bhd ("the Petitioner") had filed a winding up petition in the Shah Alam High Court for an order that DCSB be wound up under the provisions of the Companies Act 2016 and that Mr. Tee Guan Pian be appointed liquidator of DCSB. GDBSB, as a creditor of DCSB, filed into the Shah Alam High Court amongst others, the following:

(a) a Notice of Intention to Appear on Petition as a creditor of DCSB and to oppose the Petitioner's choice of the liquidator;

(b) an application for Mr Lim Tian Huat and Mr Chiang Teng Guan (both of Rodgers Reidy & Co) to be appointed as joint-liquidators of DCSB in the event DCSB is wound up, which was allowed by the Shah Alam High Court.

GDBSB's solicitors are currently advising the Company with regards to the action in Suit No WA-22C-72-10/2024.

This announcement is dated 15 July 2026.