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27 April 2015

Delay in Release the Audited Financial Statements for the Year Ended 31 December 2014

Pursuant to paragraph 9.23(2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), MASTEEL is required to furnish its Annual Audited Financial Statements for the financial year ended 31 December 2014 together with the Auditors’ and Directors’ Report (“AFS 2014”) to Bursa Malaysia Securities Berhad (“Bursa Securities”) for public release within a period not exceeding four (4) months from the close of the financial year (“Relevant Timeframe”) which falls on 30 April 2015.

The Board of Directors of MASTEEL wishes to announce that the issuance of AFS 2014 will be delayed as the External Auditors requires more information to complete its audit and the Company wishes to provide more time for the External Auditors to complete the AFS 2014. The Company is working with the External Auditors to finalise the audit expeditiously.

The Company expects its AFS 2014 on or before 11 May 2015, although the Company is working towards the deadline on 30 April 2015.

Pursuant to paragraph 9.28(5) of the MMLR, if the Company fails to issue the outstanding AFS 2014 within five (5) market days after the expiry of the Relevant Timeframe, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in securities of the Company on 12 May 2015 and will be lifted on the market day following the issuance of the outstanding AFS 2014 unless otherwise determined by Bursa Securities.

Pursuant to paragraph 9.28(6) of the MMLR, if the Company fails to issue the outstanding AFS 2014 within six (6) months from the expiry of the Relevant Timeframe, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall commence de-listing procedures against the Company.

This announcement is dated 27 April 2015.

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