Financial Highlights

The Company wishes to announce that it has been served with a Writ of Summons dated 17 July 2019 and Statement of Claim dated 12 June 2019 by Safety Capital Sdn Bhd (“Safety Capital”).

Safety Capital is seeking for, inter alia, the payment of RM10,681,000.00 (“Sum”) by the Company, together with interest and costs (“Claim”), and is in relation to advances made by Safety Capital to the Company between the years 2002 to 2004. The Board of Directors has been advised by its solicitors that the Company has a strong case to dismiss the Claim.

As the Sum claimed is non-trading in nature and Management is of the view that it will not have any impact on the operations of the Group.

At the date of announcement, there is no material financial impact of the Writ of Summons on the Group.

The suit is scheduled for case management on 11 September 2019 before the Registrar at the Shah Alam High Court, and the Company will make further announcements as and when material developments arise.

This announcement is dated 30 August 2019.