The Board of Directors of PHB wishes to announce that its wholly-owned subsidiary, Perwaja Steel Sdn Bhd (“Defendant”) had on 7 February 2017 received a Writ of Summons and Statement of Claims filed by Syarikat Air Terengganu Sdn Bhd (“Plaintiff”) against the Defendant.

The Plaintiff is claiming from the Defendant for the outstanding water bills and the interest accrued thereon. The amount claimed for includes:

(i)      Outstanding water bills amounting RM1,966,836.57;

(ii)      Interest calculated on RM1,966,836.57 at the rate of 5% per annum from 1 April 2014 to 1 February 2017;

(iii)     Interest calculated on RM1,966,836.57 at the rate of 5% per annum from 1 February 2017 to the date of full payment;

(iv)     Costs of this action; and

(v)     Such further and/or other relief as the Court deems fit.

The case had been fixed for case management at the High Court of Kuala Terengganu on 1 March 2017.

The maximum expected losses from the Writ of Summons and Statement of Claims, if any, arising from the litigation is as stated above.

The Company will make such further announcement on the development on the above matter as and when necessary.

This announcement is dated 8 February 2017.