1.  The Board of Directors (“Board”) of the Company wishes to announce that MG Furniture Sdn Bhd (“MGF”), a subsidiary of the Company, commenced a writ action (“Encl. 1”) on 18.1.2026 against the Defendants in Suit 12, claiming, amongst others –

(a) breaches of their statutory, common law, fiduciary and/or fidelity;

(b) tort of conspiracy to injure; and

(c) breach of their duty of confidentiality.  

2.  On 18.1.2026, MGF also filed a Notice of Application (“Encl. 2”) seeking, amongst others, interim injunctive relief in relation to MGF’s confidential information and related reliefs.

3. With regards to Encl. 1, Kong Khai Chun is the only Defendant who has failed to enter appearance.

4. Following hearings on 26.1.2026 and 4.2.2026, the Court on 26.2.2026 granted the following, among others, ad interim orders pending the disposal of Encl. 2 –

(a) an injunction restraining the Defendants, whether acting by themselves or through their partners, representatives, agents, associates, nominees, employees, familial           members, associated companies, contractors, and/or servants, from disclosing, circulating, copying, reproducing, storing, distributing, communicating or otherwise dealing with MGF’s confidential information (as defined in Encl. 2);

(b) an injunction restraining the Defendants, whether acting by themselves or through their partners, representatives, agents, associates, nominees, employees, familial members, associated companies, contractors, and/or servants, from exploiting, benefitting from or otherwise misusing MGF’s confidential information;

(c) an injunction restraining the Defendants, whether acting by themselves or through their partners, representatives, agents, associates, nominees, employees, familial members, associated companies, contractors, and/or servants, from relying on MGF’s confidential information to procure, solicit or conduct business with third parties, including but not limited to MGF’s customers;

(d) directions that all affidavits and cause papers filed in relation to Encl. 2 be sealed and not made available for public inspection, and that MGF be at liberty (with leave of Court) to redact averments and/or exhibits in cause papers insofar as it contains confidential information;

(e) a penal notice against the Defendants be endorsed to the Court order; and

(f) costs in the cause.

5. The next case management for Encl. 2 is fixed on 18.3.2026 for parties to update the Court on the status of filing of affidavits. There is another case management fixed on 31.3.2026 for Encl. 1, for parties to update on the status of filing of pleadings and for fixing the hearing date of Encl. 2.

6. The Board wishes to inform that the decision delivered on 26.2.2026 will not have any financial impact on the Company. Further announcements on the material development of the above matter will be made from time to time, where necessary.

This announcement is dated 27 February 2026