Reference is made to the Company’s previous announcements in 2020, 2021 and the recent announcement dated 22 February 2022.

The Company wishes to inform that following the Case Management on 7 March 2022, the Plaintiff has no objection to 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. The Court has granted order in terms in respect of these two applications based on parties’ consent.

The Court has fixed the next Case Management on 16 May 2022 for the Defendants to update on the status of whether to pursue Court-annexed mediation and the filing of the application to commence third party proceedings.

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

This announcement is dated 7 March 2022.