Reference is made to the announcements dated 19 August 2015, 13 December 2017, 3 May 2018, 24 May 2018, 15 October 2018, 26 March 2019, 27 March 2019, 8 May 2019, 10 May 2019, 4 November 2019 and 14 January 2022 (“Announcements”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcements.

The Board of Directors of Compugates wishes to announce that Main Uptown Sdn Bhd (“the Defendant”) had on 28 January 2021 filed an appeal to the Court of Appeal against part of the decision made by High Court of Malaya at Shah Alam on 13 January 2021 as follows:

(a)  A declaration that CDMSB (“the Plaintiff”) is entitled to the whole compensation sum awarded amounting to RM9,397,400.00 in respect of the land acquisition of 0.9892 hectares of land held under Title No. H.S. (D) 13828, Lot No. PT 26800 (New Lot No.: 30729), Mukim of Dengkil, District of Sepang, Selangor;

(b)  The Plaintiff is entitled to claim the whole compensation sum amounting to RM9,397,400.00 which was ordered to be deposited into Court together with all accruing interest vide Originating Summons No. BA-24NCvC-1363 Year 11/2018 to be released to the Plaintiff;

(c)  A declaration that the Joint Venture Agreement dated 18 August 2015 (“Joint Venture Agreement”) entered into between the Plaintiff and the Defendant is terminated, not valid and binding and with no effect between the Plaintiff and Defendant;

(d)  A declaration that the Plaintiff is entitled to forfeit the sum of RM3,000,000.00 from the deposit paid by the Defendant as agreed liquidated damages as agreed based on the terms of the Joint Venture Agreement;

(e)  That the Private Caveat No. 54272/2015 entered by the Defendant dated 22 October 2015 on the land held under Title No. H.S. (D) 13828, Lot No. PT 26800, (New Lot No.: 30729), Mukim of Dengkil, District of Sepang, Selangor be removed/cancelled immediately;

(f)  That the Registrar of Titles and all relevant authorities be ordered pursuant to Section 417 of the National Land Code 1965 to give the consequence and effect to this order; and

(g)  That the counter claim by the Defendant is dismissed.

The Board of Directors of Compugates also wishes to announce that the Defendant had on 31 January 2021 also filed a stay of execution of the decision made dated 13 January 2022 to the High Court of Malaya at Shah Alam until the disposal of their appeal against this decision.

The Company will make further announcement on any material development in due course.

This announcement is dated 4 February 2022.