Reference is made to the Company's announcement dated 18 June 2026 in relation to the Proposed Disposals ("Announcement").
(Unless otherwise stated, defined terms in this announcement shall carry the same meanings as previously defined in the Announcement.)
The Board wishes to announce the following additional information:-
The Board have attempted to search for companies listed on Bursa Malaysia Securities Berhad that consider broadly comparable to the Subject Companies ("Comparable Companies"), i.e. involved in the laundry industry. In view of the unsatisfactory results from the search above, the Board have expanded to profitable publicly listed companies on global stock exchanges that are involved in the laundry equipment and operation business.
However, it is important to note that the Comparable Companies are by no means exhaustive and may differ from the Subject Companies in terms of, inter alia, composition of business activities, scale of operations, geographical location of operations, profit track record, financial profile, risk profile, prospects, capital structure, marketability of their securities and other criteria.
BCM has provided a corporate guarantee in favour of Alliance Bank Malaysia Berhad in respect of the banking facility amounting to RM9.37 million extended to CS Laundry.
In this regard, the Company has obtained a consent letter from Alliance Bank Malaysia Berhad for the discharge and release of the Company from the said corporate guarantee upon completion of the Proposed Disposals, following which the Company will have no further obligations or liabilities thereunder.
Save for the above, BCM has not provided any other guarantees to Ho Kee Wee or the Subject Companies.
This announcement is dated 26 June 2026.