We refer the Company’s previous announcement dated 6 May 2020, 19 June 2020, 22 June 2020 and 30 June 2020 (“Announcements”). Unless otherwise defined in this announcement, the terms used herein shall have the same meaning as defined in the Announcements.

On 10 July 2020, a court hearing took place before the Judicial Commissioner, Tuan Nadzarin Bin Wok Nordin in regard to the application submitted by the Company to the High Court of Malaya at Kuala Lumpur (“the Court”) on 19 June 2020.

The Court has granted an order as follows:-

1.  That the Asset Sale Agreement entered into between the Company, Pacific Pacific Petcare Sdn. Bhd. (as purchaser) and Mamee-Double Decker (M) Sdn. Bhd. (as guarantor) dated 6 May 2020 involving the following assets is validated:

a. seven (7) parcels of freehold industrial land together with   buildings erected thereon held under GRN 136983 Lot No. 111737, GRN 136984 Lot No. 111738, GRN 136985 Lot No. 111739, GRN 136986 Lot No. 111740, GRN 136987 Lot No. 111741, GRN 136988 Lot No. 111742 and GRN 136989 Lot No. 111743, all in Mukim of Plentong, District of Johor Bahru, State of Johor (collectively referred to as the “Land & Buildings”);

b. plant & machinery located within the premises of the Land & Buildings (“Plant & Machinery”); and

c. intellectual property rights comprising certain trademarks and all goodwill associated with such trademarks (“Intellectual Property Rights”).

2. That the Liquidator be remunerated based on the scale fees set out in Second Schedule, Table C of the Companies (Winding-Up) Rules, 1972 from the assets and businesses of the Company;

3. That authority be given to the Liquidator to continue carrying on the business of the Company for another 180 days beginning from 10 July 2020;

4. That the costs of the application be paid out of the assets of the Company herein;

5. That the Liquidator is at liberty to apply for any such directions and/or orders from the Honourable Court arising from and in connection with the exercise of the powers and the performance of the functions and/or duties of the Liquidator; and

6. That Khee San Berhad is to pay cost of RM5,000 to the Liquidator personally.

This announcement is dated 15 July 2020.