Reference is made to the following announcements made by FSBM:

(a) First announcement dated 16 October 2019 in relation to the Company being classified as an affected listed issuer pursuant to Paragraph 8.03A(2)(b) of the Listing Requirements;

(b) First announcement dated 30 December 2019 in relation to the Company being classified as a PN17 Company pursuant to PN 17 of the Listing Requirements; and

(c) the subsequent announcements dated 1 November 2019, 2 December 2019, 2 January 2020, 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020, 1 October 2020, 2 November 2020, 1 December 2020, 4 January 2021, 2 February 2021, 1 March 2021, 1 April 2021, 3 May 2021, 1 June 2021, 1 July 2021, 2 August 2021, 23 August 2021, 1 September 2021, 23 September 2021, 1 October 2021, 15 October 2021, 1 November 2021, 8 November 2021, 9 November 2021, 1 December 2021, 3 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 15 April 2022, 21 April 2022, 26 April 2022, 5 May 2022, 19 May 2022, 1 June 2022 , 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 12 October 2022, 1 November 2022, 15 November 2022, 1 December 2022, 21 December 2022 and 3 January 2023.

(collectively, referred to as the “Earlier Announcements”)

The terms herein shall bear the same meaning as defined in the Earlier Announcements.

On behalf of the Board, Malacca Securities wishes to announce the Company and the Subscribers had on 13 January 2023 via exchange of letters agreed the following:

(a) to include an additional Condition Precedent to the Subscription Agreement as follows:

“3.1 (c) the completion of the capital reduction exercise to be carried out by the Company pursuant to Section 116 of the Act to reduce the share capital of the Company.”; and

(b) extension of the cut-off date for the fulfilment of the conditions precedent (including the additionall Condition Precedent above) of the Subscription Agreements for a further period of 9 months, from 15 January 2023 to 14 October 2023.

This announcement is dated 13 January 2023.