Pursuant to Rule 9.04(f) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of LKL International (“Board”) wishes to announce that its wholly-owned subsidiary, LKL Advance Metaltech Sdn. Bhd. (“Plaintiff”), had through its solicitors, Messrs. Chong + Kheng Hoe, filed an Originating Summons in the High Court in Kuala Lumpur bearing registration number: WA-24NCC(ARB)-37-12/2020 (“OS”) against Crecom Burj Gloves Sdn. Bhd. (“Defendant”). On 5 March 2021, the High Court had granted a Mareva injuction to freeze the Defendant’s asset up to the amount of RM12,542,783.60 after hearing all parties involved.

In line with the OS, the Plaintiff had also filed a Notice of Arbitration (“Arbitration”) against the Defendant. The Plaintiff’s claim against the Defendant in the Arbitration arose from the Purchase Agreement dated 2 October 2020 (“PA”). The Plaintiff had paid RM12,673,500.00 to the Defendant to purchase gloves from the Defendant pursuant to the PA, in which was breached by the latter. In the Arbitration, the Plaintiff is seeking from the Defendant RM12,542,783.60, general damages, interest, costs and any further relief that the arbitral tribunal thinks fit and just.

The Company will make the necessary announcement on material development in respect of this as and when necessary.

This announcement is dated 8 March 2021.