The Company wish to announce that its wholly owned subsidiary, TSR Bina Sdn Bhd (“TSRB”) had received an application for summary judgement from its supplier, Bentara Gemilang Industries Sdn Bhd (“Bentara”) for a total amount of RM2,701,390.01 (for quarry products delivered) with interest (“Summary Judgement”).

TSR has put in its defence and serve Third Party Notice against Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (“SPYTL”) in the basis that SPYTL is obliged to pay the amount in Summary Judgement based on agreement between the parties. Subsequently, SPYTL has put in an application to strike out the Third Party Notice (“Strike Out Application”).

The court today, has delivered its decision by allowing both the Summary Judgement and Strike Out Application.

The Company is seeking its solicitors’ advice for next course of action.

Further announcement will be made of any material development changes as and when appropriate.

This announcement is dated 26 November 2020.