(The definitions used in this announcement shall have the same meanings as that used in the announcement dated 20 May 2026 unless stated otherwise)
We refer to our announcement dated 20 May 2026 on the above matter.
The Board of Directors of Mega First Corporation Berhad ("MFCB") wishes to update that at the Hearing for the Interim Judicial Management Application held on 3 June 2026, the High Court has inter alia allowed the appointment of Mr Lim Tian Huat and Mr Chiang Teng Guan of Messrs Rodgers Reidy & Co, having their office at K-3A-09 & 13A, No. 2, Jalan Solaris, Solaris Mont Kiara, 50480 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur as joint and several Interim Judicial Managers ("High Court Order"), pending the Hearing of the Originating Summons for the Judicial Management Order filed on 20 May 2026. The sealed High Court Order was received by Edenor Companies on 5 June 2026.
The Interim Judicial Managers shall, with effect from the date of the High Court Order have all rights, functions and powers as vested in them under the Companies Act 2016 and any other applicable written law, including without limitation the power to:
a) manage, administer, and carry on the business, affairs, and property of Edenor Group of Companies;
b) take custody and control of all property to which the Edenor Group of Companies appear to be entitled;
c) negotiate and execute any restructuring agreement, scheme of arrangement, or rehabilitation plan on behalf of Edenor Group of Companies;
d) dispose of property of the Edenor Group of Companies in the course of carrying on the business of the Group or as part of any restructuring or rehabilitation plan;
e) appoint, engage, and terminate services of such professional advisers, consultants, and employees as the Interim Judicial Managers consider necessary for the proper discharge of their functions;
f) apply to the High Court for further directions or orders in connection with the management and administration of the property and affairs; and
g) take all such other steps and do all such other things as are necessary and appropriate to protect the interests of the Edenor Group of Companies, respective creditors and all other interest parties.
In the meantime, the Board of Directors of MFCB wishes to inform that the moratorium under Section 410(c) of the Companies Act 2016 shall continue to remain in effect. During the moratorium period, no proceedings, execution or other legal process may be commenced or continued against the Edenor Group or its property save with the leave of the High Court.
Further announcements will be made as and when there are material developments on this matter.
This announcement is dated 5 June 2026.