The Company wishes to announce to the Exchange that its dormant wholly-owned subsidiary which is incorporated in India, Puncak Niaga Infrastructures & Projects Private Limited (“PNIPPL”), had on 28 July 2021 submitted the application for the striking off of the name of PNIPPL from the Register of Companies in India pursuant to Section 248 of the Indian Companies Act, 2013 (“Striking Off”).

PNIPPL was incorporated in India on 10 March 2011 as a private limited company with a paid up capital of Rs 5,000,000. PNIPPL has been dormant since its incorporation.

The Striking Off process is expected to be completed by the 4th Quarter of 2021.

The Striking Off will not have any material effect on the earnings, net asset and gearing of the Puncak Group for the current financial year ending 31 December 2021.

This announcement is dated 29 July 2021.