Further to the Company's announcements dated 18 September 2026, 25 September 2026 and 29 September 2026, unless otherwise stated, the definitions and terms used herein shall have the same meanings as those defined in the previous announcements.
The Board of Directors wishes to announce that the Company has received the duly sealed Court Order dated 29 September 2026 in relation to the creditor-initiated application for the proposed scheme of arrangement and restraining order filed by Maxi Steel & Aluminium Industries Sdn. Bhd.
The High Court of Malaya at Shah Alam has granted:-
Leave under Section 366(1) of the Companies Act 2016 for Rexallent Construction Sdn. Bhd. ("Rexallent") to convene creditors' meeting(s) within three (3) months from the date of the Order, or such other period as the Court may direct, to consider and, if thought fit, approve the proposed scheme of arrangement, with or without modifications.
A restraining order under Section 368(1) of the Companies Act 2016 for three (3) months from the date of the Order, restraining proceedings and enforcement actions against Rexallent, its assets and the guarantors specified in the Order, except with leave of the Court and subject to its terms.
The proposed scheme remains subject to creditors' approval and subsequent Court sanction.
The Company will make further announcements on any material developments.
This announcement is dated 5 October 2026.