“Unless otherwise stated, the terms used in this announcement shall carry the same meaning as defined in the Company's announcements dated 20 October 2017, 23 October 2017, 5 January 2018, 30 January 2018, 4 May 2018, 25 May 2018, 28 September 2018, 16 October 2018, 12 November 2018 and 23 August 2019.”

Reference is made to the Company’s announcements on 20 October 2017, 23 October 2017, 5 January 2018, 30 January 2018, 4 May 2018, 25 May 2018, 28 September 2018, 16 October 2018, 12 November 2018 and 23 August 2019 pertaining to the fire incident that occurred at its main manufacturing plant in Klang, Selangor.

The Board wishes to inform that the insurer, AXA Affin General Insurance Berhad, had on 23 December 2019 offered RM22,216,549 to its wholly owned subsidiary, Notion Venture Sdn Bhd (“NVSB”), being full and final settlement under the Business Interruption Loss.

As announced on 23 August 2019, an interim payment of RM10,000,000 had been received, therefore with the final offer of RM22,216,549, there is a balance of RM12,216,549 payable by the insurer to NVSB.

The Board will make further announcement when the balance is paid by the Insurer and evaluate whether to pursue further on the Business Interruption Claim.

This announcement is dated 16 January 2020.