Shiya Sdn Bhd entered into an Implementation Agreement to acquire China Sports International Limited for SGD 3 million on November 15, 2019. Under the terms of agreement, Shiya Sdn Bhd will issue its new shares to China Sports. China Sports International is presently under judicial management and its shares are suspended from trading. Upon completion of the Transfer and, if necessary, the compliance placement of new shares to constitute the requisite public float, the Consideration Shares will be listed on Catalist and shall be freely tradable. To the knowledge of the Judicial Managers, no person is proposed to be appointed as a Director of the Company in connection with the proposed Transfer. Completion of the Transfer is subject to various conditions precedent the in-principle approval, SGX-ST for the Transfer, approvals of the Scheme by Shareholders and Creditors and the sanction of the Scheme by the High Court of Singapore. On December 26, 2019,The SGX-ST it has granted the time extension to submit a resumption proposal to meet RTO requirements having undertaken and completed their due diligence of the post-acquisition entity and that the post-acquisition entity has adequate working capital for the next 12 months until April 30, 2020. One of these conditions precedent is that in-principle approval for the Listing is obtained. On April 30, 2020, Company has yet to receive a confirmation from the Transferee’s sponsor and intends to request for further time extensions. The SGX-ST had on 18 May 2020 informed that it has no objections granting the further time extensions and the Company has until September 10, 2020 to convene its AGMs to comply with Listing Rule. China Sports International Limited on September 22, 2020 informed the Company that it had no objection in granting a final time extension of up till 31 January 2021 to complete the resumption proposal, failing which, the Company will be delisted from the Exchange without further reference. On September 25, 2020, The Exchange has rejected the Company’s application for further time extensions with respect to compliance with Listing Rules and application for further time extensions to convene its AGMs. The Judicial Managers and its legal advisers continue to be in the progress of working together with the Transferee and their professional advisers for a submission of the relevant documentation by 15 November 2020. Reinstatement of the Conditional Movement Control Order has been reinstated in certain states of Malaysia, including Johor Bahru, where entities in the Shiya group of companies operate and in Melaka where Shiya’s Malaysian auditors are located. Extension was requested till January 10, 2021. The Exchange had on 04 December 2020 informed that the Company that it has no objection in granting the Company a final extension of time of up to 31 March 2021. On December 24, 2020, China Sports had made an application to the High Court of the Republic of Singapore for leave to convene meetings of its shareholders and creditors for a scheme of arrangement. Company has finalized its choice of an independent financial adviser and valuer has been appointed along with that it have applied to the Securities Industry Council for certain clarifications, rulings and/or confirmations in relation to the proposed Scheme. The Judicial Managers have applied to Court on 17 February 2021 to extend the court timelines in relation to the convening of Scheme Meetings. The application is fixed for hearing on March 1, 2021. ON March 15, Judicial managers requested to extend till May 31, 2021 but the exchange have rejected the application on March 26, 2021. and stated that iit need to complete the transaction by March 31, 2021.