Further to the announcement made on 23 January 2018, the Board of Directors of Ann Joo Resources Berhad wishes to inform that the Company’s wholly-owned subsidiary, Ann Joo Steel Berhad (“AJSB”) was successful in its appeals against Tenaga Nasional Berhad (“TNB”) (“TNB Appeal”) and against Pejabat Tanah dan Galian Negeri Pulau Pinang (“PTG”) and Mohd Noor Bin Rejab (“Mohd Noor”) (“PTG Appeal”) (TNB, PTG and Mohd Noor are collectively referred to as the “Respondents”).

The Federal Court set aside the Court of Appeal Orders dated 24 July 2019 (which were in favour of the Respondents) and reinstated the Penang High Court Order dated 22 August 2016 (which was in favour of AJSB), and as such held as follows:

1. AJSB is the legal, beneficial and registered owner of Lot No. 78, Seberang Perai Tengah, Bandar Prai, Pulau Pinang (“the Land”), which includes the area measured based on High Water Mark (“HWM”);
2. The purported Temporary Occupational Licenses issued by PTG to TNB are null and void;
3. TNB is liable to AJSB for trespass on the Land. TNB ought to vacate that part of the Land which is being trespassed on and to repair and/or restore the said part of the Land to its original condition prior to the trespass;
4. PTG is to amend the Register of Titles and/or to take all necessary steps to reflect that the Land is measured based on HWM as shown in Plan No. 5540;
5. TNB to pay costs of RM 80,000.00 to AJSB under the TNB Appeal;
6.  PTG and Mohd Noor to pay costs of RM 80,000.00 to AJSB under the PTG Appeal; and
7. The Respondents are liable for losses and damages (to be assessed by the High Court) suffered by AJSB. The parties will now proceed with this assessment at the Penang High Court.

This announcement is dated 2 August 2019.