Reply to Query

We refer to your Company's announcement dated 2 August 2021, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad (“Bursa Securities”) with the following additional information for public release:-

1. Name of directors and substantial shareholders of ECK together with their shareholdings.

2. Further details on the principle activity of ECK such as the details of major projects undertaken together with the development/project value for the past 5 years.

3. Given that the Term Sheet shall constitute a legal, binding, and enforceable contract between IPGB and ECK, please provide the full details on the terms of the proposed joint development of the Project, including but not limited to, description of the Project (expected commencement and completion date of Project, entire development value, whether approval from the Federal Government (approval date, if any) has been obtained), contractual obligation and roles/ responsibilities of the respective parties in the Project, cost and profit sharing arrangements, etc.

4. In respect of the Corporate Guarantee of RM1 billion, please provide the following:-

(i) Whether IPGB has the financial resources and capability to issue the CG;

(ii) Risks exposure to IPGB and the safeguard that IPGB has put in place to mitigate the risks.     

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

Listing

Regulation

cc:-   Market Surveillance, Securities Commission (via fax)