Reference is made to the announcements dated 15 October 2021, 15 April 2022 and 12 October 2022 in relation to the regularisation plan of FSBM ("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 following:

(a) FSBM and Dato' Tan had on 15 November 2022 vide an exchange of letter, agreed to mutually terminate the CSSA in relation to the Proposed Disposals ("CSSA Termination"); and

(b) FSBM proposes to increase the amount of the Proposed Capital Reduction from RM10,800,000 to RM14,292,450 ("Increase in Capital Reduction").

In view thereof, the Proposed Regularisation Plan has been revised to comprise the following:-

(a) a proposed shares issuance of 60.0 million Subscription Shares to the Subscribers;

(b) a proposed renounceable rights issue of up to 236,659,300 Rights Shares on the basis of 1 Rights Share for every 1 existing FSBM Share held, together with up to 118,329,650 free detachable Warrants on the basis of 1 Warrant for every 2 Rights Shares subscribed for, on an entitlement date to be determined and announced later. For information, the maximum number of Rights Shares and Warrants to be issued had been revised from 250,006,290 to 236,659,300 Rights Shares and 125,003,145 to 118,329,650 Warrants respectively, after taking into consideration the actual number of new FSBM Shares which were issued pursuant to the exercise of Warrants 2012/2022, which had expired on 16 May 2022; and

(c) a proposed 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,

collectively referred to as the "Revised Proposed Regularisation Plan".

Further details of the CSSA Termination, Increase in Capital Reduction and Revised Proposed Regularisation Plan are set out in the attachment below.

This announcement is dated 15 November 2022