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27 May 2015

Application for an Extension of time

The Board of Directors of MASTEEL wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had via their letter dated 25 May 2015 which was received on 26 May 2015, informed the Company that they have resolved to reject the Company’s application for an extension of time up to 31 July 2015 to release 1st Quarterly Report pursuant to paragraph 9.22(1) of the Main Market Listing Requirements which was submitted on 13 May 2015.

The reason for the delay in issuance of 1st Quarterly Report is due to the ongoing special review by UHY Advisory (KL) Sdn Bhd, the Special Auditors to conduct an independent and comprehensive review of the issues raised by the Messrs Nexia SSY, the External Auditors on the financial statements of the Company for the financial year ended 31 December 2014 (“AFS 2014”). The Special Review is expected to be completed in six (6) weeks from 30 April 2015.

In view of the above, MASTEEL is not able to furnish its 1st Quarterly Report to Bursa Securities as the Company needs the finalisation of the AFS 2014 in order to have the comparative information and corresponding financial figures aside the brought forward figures from the financial year ended 2014 to the opening figures in the 1st Quarterly Report, where appropriate for disclosure to Bursa Securities.

This announcement is dated 26 May 2015.

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