Further to the facts disclosed in the Company’s announcement dated 24 February 2020, 5 January 2021, 14 January 2021, 5 March 2021, 16 March 2021 and 12 April 2021, the Board of Directors of MPCORP wishes to disclose the following subsequent events, in chronological order: -

On 11th January 2021, the Court vacated the Trial date and in view of the Movement Control Order which would be in effect until 26th January 2021, the Court fixed new Trial dates on 9th March 2021 and 26th March 2021.

On 4th March 2021, the Court issued notice to confirm that the Trial will commence on 9th March 2021.

The Trial commenced on 9th March 2021 and 26th March 2021.

The Court fixed the Decision date on 19th July 2021.

The Court grants the following judgment on 19th July 2021: -

(a) Main Action

(i) Defendant to pay the sum of RM2,726,955.71 (RM130,109,651.65 x 9% x 85days) to the Plaintiff as the costs of funds with 5% interest from the date of judgment until the full settlement; and
(ii) Costs of RM40,000.00 subject to allocator fee of 4% to be paid by the Plaintiff to the Defendant.

(b) Counterclaim Action

(i) Plaintiff to pay RM34,895.00 to the Defendant with 5% interest from the date of judgment until the full settlement; and
(ii) No order as to costs.

The Company will announce further developments pertaining to the above matters as and when necessary.

This announcement is dated 21 July 2021