We refer to the announcement dated 23 September 2015 and the subsequent announcements thereto, and the announcements dated 19 November 2015, 3 February 2016, 17 February 2016, 1 April 2016, 1 July 2016, 8 September 2016 and 19 September 2016 made by LDHB pursuant to Paragraph 9.19A of the MMLR in relation to the defaults in payment by Megasteel, a 21.11%-owned associated company of LDHB, in respect of working capital facilities and term loan facilities ("Megasteel Defaults") ("Earlier Announcements").
Unless otherwise stated, the definitions used throughout this announcement shall have the same meanings as defined in the Earlier Announcements.
Pursuant to Paragraph 9.19A of the MMLR, the Company is required to announce the Megasteel Defaults to Bursa Securities as both Megasteel and LCB are associated companies of the Company. In this regard, the Board of Directors of the Company ("Board") hereby announce that the status of the Megasteel Defaults as at the date of this announcement remains the same.
The Board wishes to reiterate that the Megasteel Defaults are by its associated company and not by the Company or any of its subsidiaries.