(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as defined in the Company’s announcement dated 10 August 2018 except where the context otherwise defined herein)

MCSB, a wholly-owned subsidiary of the Company had on 10 August 2018 entered into a MOU with HKMC to establish a cooperative and collaborative relationship with the view to embark into the Project which has been approved by the Perak State government and involves the reclamation and the development of approximately 3,400 acres into a heavy industrial development with a sea port to provide logistic facilities.

The Board of Directors wishes to announce that there has been no further material development since the previous announcement.

This announcement is dated 30 June 2020.