Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement dated 17 October 2019 in relation to the default in payment to AFFIN Investment.

With reference to the Company’s announcement dated 17 October 2019 and 18 November 2019 in relation to the default in payment of the syndicated term loan facility by ATP and the monthly announcement on the status thereon respectively, on behalf of the Board of Directors of the Company, we wish to inform that there is no development on the status of the default in payment as at the date of this announcement save and except for the following:

i.          AFFIN Investment had, on 4 December 2019, appointed Datuk Duar Tuan Kiat of Messrs Ernst & Young as Receiver and Manager of the property of ATP under the powers contained in a debenture dated 10 July 2014, full particulars as disclosed in the Company’s announcement dated 6 December 2019.

ii.         On 18 December 2019, PCBD received a letter dated 11 December 2019 from a legal firm, acting for AFFIN Investment, demanded the payment of RM244,015,982.89 calculated as at 11 December 2019 together with interest thereon to the date of full payment pursuant to the Corporate Guarantee dated 10 July 2014 executed by PCBD in favour of AFFIN Investment within fourteen (14) days from the date of the said letter, failing which AFFIN Investment shall be compelled to commence legal action against PCBD.

The Company will make the necessary announcement as and when there are further developments on the default in payment.

This announcement is dated 18 December 2019.