FURNIWEB (08480) has issued an announcement regarding the winding-up petition filed against its controlling shareholder, PRG Holdings Berhad, as well as the judicial management order application submitted by the controlling shareholder to the High Court of Malaya. The board of directors of FURNIWEB learned from an announcement published by the controlling shareholder on 19 August 2026 that the High Court of Malaya (Kuala Lumpur) has scheduled the hearing for the judicial management application on 21 September 2026.

Furthermore, the board noted from a subsequent announcement released by the controlling shareholder on 24 August 2026 that the controlling shareholder had filed an application with the court on 13 August 2026, seeking the appointment of Mr. Andrew Heng and Mr. Ashvin Mahendran of Baker Tilly Insolvency PLT as interim judicial managers of the controlling shareholder, pending the hearing of the judicial management application scheduled for 21 September 2026. Following updates disclosed in announcements dated 26 August, 1 September, and 3 September 2026, the court issued a sealed order on 26 August 2026, appointing Mr. Andrew Heng and Mr. Ashvin Mahendran of Baker Tilly Insolvency PLT as interim judicial managers of the controlling shareholder, with effect from that same day.

The board emphasises that the controlling shareholder operates as a separate legal entity independent of the company and its group. The appointment of interim judicial managers pertains solely to the controlling shareholder and does not extend to any member of the group. Based on currently available information, the board believes that the aforementioned developments concerning the controlling shareholder have no material adverse impact on the group's daily operations or financial position, and that the group's operations and financial status remain normal and unaffected.