We refer to the Bursa Query Letter dated 30 September 2025 in respect of the aforesaid matter. In this connection, kindly refer below for the additional information for public release as requested:

(1)   the details of the circumstances or allegations leading to MACC’s investigation of Mr. Tang Tiam Hok and freezing of SMSB’s bank accounts;

       MAYU’s Response

       No reasons were provided in the notice for the MACC’s actions. As such, the underlying circumstances or specific allegations remain unclear at this juncture.

(2)   confirmation as to whether SMSB is a major subsidiary of the Company

       MAYU’s Response

      Sunrise Manner Sdn. Bhd. (“SMSB”) is not a major subsidiary of the Company, as defined under Paragraph 1.01 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. 

(3)   the steps taken or to be taken by the Company in respect of the freezing order issued by MACC on SMSB; and

       MAYU’s Response

       The Company is in the process of obtaining legal advice from its appointed counsel concerning the freezing order issued by the MACC in respect of the bank accounts held by the subsidiary of MAYU, SMSB. The Company will undertake all necessary actions, as advised by its legal counsel, and will take all necessary steps to safeguard the interests of the Company and its shareholders, and to ensure business continuity.

(4)   the status/outcome of the internal audit by Baker Tilly MH (Penang) Sdn. Bhd on SMSB as announced on 24 April 2025.

       MAYU’s Response

       Baker Tilly MH (Penang) Sdn. Bhd had conducted an Internal Audit Review on funding and disbursement controls of SMSB, covering the period from 1 July 2018 to 30 June 2023.  The scope of the audit did not include a forensic audit.

       The key objective of this internal audit is to review, evaluate, and test the effectiveness of controls that are in place with respect to the following business processes:

       A. Policies and procedures;

      B. Execution of contractual agreement; and

      C. Funding and disbursement controls

     Review Methodology

      A risk-based methodology was employed for this review. In line with this methodology, we identified areas of risk and evaluated the efficiency and effectiveness of internal controls.

     Review consists of the following phases:

     •  Review of existing policies and procedures;

     •  Systems documentation, walk-through and gap analysis;

     •   Detailed testing and validation; and  Reporting.

     The key issues highlighted by the Internal Auditors for enhancement were as follows:

    •  Strengthening documentation and governance over financing arrangements;

    •  Establishing more structured customer due diligence and compliance procedures in line with regulatory expectations; and

    •  Improving the accuracy of budget preparation and monitoring to better align with project implementation.

     Management Response:

     Management has taken note of the observations and is committed to implementing the recommended improvements. These include refining internal policies, enhancing monitoring mechanisms, and ensuring stronger alignment with good corporate governance practices.

     Conclusion

    The internal audit revealed several controls deficiencies in governance, financial control, and regulatory compliance. Immediate remediation is recommended to:

    •  Safeguard the company’s financial integrity

    •  Align practices with statutory and best practice standards

    •  Enhance transparency and accountability in funding and disbursement activities

This announcement is dated 1 October 2025.