• South Malaysia Industries won a High Court ruling on October 19, 2026, quashing Securities Commission Malaysia consent for six director nominees.
• The November 13, 2024, consent covered Target 1's nominees and voting rights for Target 1 and its concert parties.
• The court also quashed the regulator's January 9, 2025, rejection of a review request, ordering it to pay RM 15,000 in costs.
• The company views the ruling as relevant to pending litigation over director appointments at its January 9, 2025, extraordinary general meeting.
• Velocity Capital seeks to validate the six appointments; the company seeks to invalidate them.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. South Malaysia Industries Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3716801) on October 20, 2026, and is solely responsible for the information contained therein.