Reference is made to the announcements dated 3 September 2019 and 7 October 2019 in relation to Memorandum of Understanding (“MOU”) with Innoprise Corporation Sdn Bhd (“ICSB”) and Supply of Logs Agreement (“Agreement”) entered into between PWI and Rakyat Berjaya Sdn Bhd. (“RBSB”) (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply therein.

The Board of Directors of PWI wishes to announce that PWI had, on 24 January 2020, entered into a Deed of Mutual Termination Agreement with RBSB, a wholly-owned subsidiary of ICSB to mutually agree to terminate the Agreement with immediate effect (“Mutual Termination of Agreement”). As such, the Agreement with RBSB along with the MOU are terminated accordingly.

Please refer to the attachment for the details of the Mutual Termination of Agreement.

This announcement is dated 24 January 2020.