Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcements dated 27 July 2020 and 19 October 2020 in relation to the Restraining Order granted by High Court of Malaya at Ipoh.

Reference is made to the announcements dated 27 July 2020 and 19 October 2020 in relation to the RO and Extended RO respectively granted by the High Court to the Applicants pursuant to Section 368 of the Companies Act 2016.

The Board of Directors of Perak Corporation Berhad wishes to announce that the Applicants had filed a Notice of Application for an extension of the Extended RO.

The High Court has granted the Applicants a further extension of the RO for a period of ninety (90) days from today (“Further Extended RO”).

In addition, the High Court has granted the Applicants a period of one hundred eighty (180) days from today to convene a new Creditors’ Meeting with the Scheme Creditors pursuant to the provisions of Section 366 of the Companies Act 2016 for the purpose of considering the Proposed Scheme of Arrangement.

With this positive development, the Company shall continue to negotiate a favourable settlement terms with its Scheme Creditors, after having adjourned the Court Convened Meetings which was held on 8 January 2021.

This Further Extended RO is not expected to have any material impact on the financial and operational matters of the Company and its group of companies.

Further development on the above matter shall be announced in due course.

This announcement is dated 13 January 2021.