We refer to the Company’s announcement made on 27 March 2017 and subsequent updates of the status in our quarterly reports in relation to the suit.

The Board wishes to update that, by consent, the Company’s wholly-owned subsidiary, Naim Land Sdn. Bhd. (“NLSB”) and the Plaintiffs have respectively agreed to withdraw its appeal to the Court of Appeal and their claim in the High Court against each other. 

In pursuance thereof, at the High Court on 24 July 2020, the Plaintiffs’ action against NLSB was discontinued and struck out with no liberty to file afresh and no order as to costs.    

Dated this 28th day of July, 2020