On behalf of the Board of Directors of Perak Corporation Berhad (“Perak Corp” or “Company”), we wish to inform that the Company had on 17 March 2023 appointed solicitors to represent Perak Corp and certain directors and former directors of the Company to oppose an Originating Summon No. AA-24NCC-2-02/2023 filed by Mohamed Shafeii bin Abdul Gaffoor (served vide registered post on 2 March 2023), for an order to set aside the sanctioned Scheme of Arrangements (“SOA”) of the Company and PCB Development Sdn Bhd, in his capacity as the scheme creditor in the Explanatory Statement dated 26 March 2021, which represents less than 0.02% of the total sum owing to scheme creditors under the SOA.

The respondents are Perak Corp, PCB Development Sdn Bhd (in Creditors’ Liquidation), Ferrier Hodgson MH Sdn Bhd (Scheme Adviser), directors of Perak Corp namely, Datuk Redza Rafiq bin Abdul Razak, Andy Liew Hock Sim and Tan Chee Hau, and former directors of Perak Corp namely, Tan Sri Abdul Rashid bin Abdul Manaf, Tan Sri Ir Kunasingam a/l V. Sittampalam and Zainal Iskandar bin Ismail.

Based on legal opinion obtained by the Company, the Board of Directors of Perak Corp are of the view that the said originating summon by Mohamed Shafeii has no merits. The matter has been fixed for its first Mention on 20 March 2023.

As at the date of this announcement, there is no significant financial and operational impact arising from the originating summons on the Company.

Further details will be announced as and when there is any material development on the above matter.

This announcement is dated 17 March 2023