1. INTRODUCTION

The Company wishes to announce that it has been served a Writ of Summon as First Defendant from China Design Group Ltd., Jiangsu Tongyong Road and Bridge Co Ltd and Jiangsu Tiannuo Road Material Co Ltd (“Plaintiffs”) via Suit No. WA-22NCC-441-07/2025. on 9 July 2025 in the Kuala Lumpur High Court (“the Suit”).

2. BACKGROUND OF THE SUIT

The Suit is premised on a Memorandum of Understanding (“MOU”) dated 19 January 2024 and a Framework of Cooperation Agreement dated 16 March 2024 (“FCA”), both relating to tender for the proposed Northern Corridor Highway (“NCH”) project. The Plaintiffs has alleged that it has paid RM3.0 million (RM1.0 million as a bank guarantee to Government of Malaysia and RM2.0 million a company known as Asia Infrastructure Solutions Sdn Bhd, the Second Defendant in the Suit) and that the Defendants are contractually required to refund the RM3.0 million to the Plaintiffs.

On 12 August 2025, through our appointed firm of legal counsels, we have filed our Defence on 26 August 2025 denying any liabilities on the ground that the consummation of the MOU and FCA was subject to a condition precedent that NCH was awarded to us.

The Plaintiff has applied for Order 14A for summary disposal of the matter on the 10 September 2025 (“the Application”) which is scheduled to be heard on 5 January 2026.

3. MANAGEMENT VIEW OF THE SUIT

The Management is confident that the Application will be set aside by the Court and that there are reasonable grounds to challenge the claims made by the Plaintiffs.

The Company will announce further developments on the Suit as and when necessary.

This announcement is dated 16 October 2025.