Reference is made to the Company's announcements dated 3 December 2020, 10 December 2020 and 16 December 2020 in relation to the Judicial Review Application filed by Puncak Niaga Management Services Sdn Bhd ("PNMSSB") to challenge the Notices of Assessment known as Form J which PNMSSB received from the Inland Revenue Board (“IRB”) on 23 November 2020 for the Years of Assessment 2017 and 2018 amounting to RM2,292,182.64 and RM1,988,472.96 respectively (hereinafter referred to as “Notices”).

Puncak wishes to announce to the Exchange that at the case management on PNMSSB’s Judicial Review Application on 13 January 2021, the Kuala Lumpur High Court granted an interim stay of the enforcement of the Form J on PNMSSB until the next case management on 18 January 2021. In the meantime, no taxes are payable by PNMSSB since the interim stay has been granted.

This announcement is dated 14 January 2021.