Reference is made to the Company’s announcements dated 17 November 2020, 10 December 2020, 8 February 2021, 29 March 2021, 4 May 2021, 17 May 2021, 19 July 2021, 24 August 2021, 14 September 2021, 4 October 2021, 11 November 2021, 19 November 2021 and 6 December 2021.

The Company wishes to inform that following the Case Management on 22 February 2022, the Court has allowed the withdrawal of the Application of TBCSB and IWCITY to amend their Statement of Defence, with no order as to costs.

The Court has fixed the next Case Management on 7 March 2022 for the Plaintiff to update the Court regarding whether the Plaintiff will continue opposing TBCSB’s Application to amend Notice of Application to strike out the Plaintiff’s action and the Application of TBCSB and IWCITY for extension of time to file interlocutory applications.

Further, the Court would also like parties to update their position to pursue a Court-annexed/judge-led mediation in the next Case Management.

The Company will make further announcement(s) on the material development of the case in due course.

This announcement is dated 22 February 2022.