Reference is made to the Company's announcements dated 10 November 2025, 11 November 2025, 6 January 2026 and 31 March 2026 ("Announcements"). Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as those used in the Announcements.
The Board wishes to announce that the High Court had on 29 June 2026 allowed the Application.
The High Court has, among others, made the following orders:
- that SMSB be placed under the judicial management of a judicial manager pursuant to Section 405 of the Companies Act 2016 for a period of six (6) months commencing from 29 June 2026, unless extended or otherwise ordered by the High Court;
- En. Baltasar bin Maskor shall be appointed as the judicial manager of SMSB to manage the affairs, business and property of SMSB in accordance with the provisions of the Companies Act 2016; and
- that the costs of the judicial manager and SMSB's solicitors for this Application shall be borne by SMSB and be paid from the assets of SMSB.
The Board wishes to highlight that the statutory moratorium pursuant to Section 411(4) of the Companies Act 2016 is now in effect and shall continue to remain in force during the period of the JMO, subject to the terms of the High Court's order and the applicable provisions of the Companies Act 2016.
The Company will make further announcements as and when there are any material developments in relation to the above matter.
This announcement is dated 29 June 2026.