The Board of Directors of Straits Inter Logistics Berhad (“Straits” or “the Company”) wishes to announce that its subsidiary i.e Tumpuan Megah Development Sdn. Bhd (“TMD”) had on 14 April 2021, received a sealed Order dated 22 March 2021 and undated Notice of Registration of Foreign Judgement.

This represents an attempt by ING Bank N.V and O.W. Bunker Far East (Singapore) Pte Ltd (collectively referred to as “Creditors”) to enforce an English Judgment for USD 937,353.24 with interest and cost which TMD has disputed jurisdiction.

Accordingly, TMD is taking steps to strenuously resist this attempt to enforce an invalid arbitration award issued without jurisdiction.

The Company will make the necessary announcements on further developments of the above matter as and when necessary.

This announcement is dated 14 April 2021.