(The abbreviations and words used in the ensuing sections of this Announcement shall have the same meanings as defined in the announcement dated 6 March 2013 unless the context otherwise requires or defined herewith.)

Reference is made to the Company’s earlier announcements in relation to the Regularisation Plan, the announcement dated 9 August 2016 in relation to the winding up petition served on Hai San Ice Industries Sdn Bhd, a wholly-owned subsidiary of Haisan by Messrs. Shook Lin & Bok acting on behalf of Tenaga Nasional Berhad (“Petition”) and the announcements in relation to the Proposed Disposal which was approved by the shareholders of Haisan at an extraordinary general meeting on 15 April 2016 (“Disposal”).

Reference is also made to the announcement dated 10 August 2016 in relation to the application to Bursa Securities seeking its approval for an extension period of four (4) months up to 24 December 2016 for the Company to complete the implementation of its Regularisation Plan and the listing of the new Haisan Shares pursuant to the Private Placement and Rights Issue (“EOT Application”).

On behalf of the Board of Directors of Haisan, Public Investment Bank Berhad wishes to announce that pursuant to a Board meeting held on 26 September 2016 in relation to the Regularisation Plan and the EOT Application, the Board had decided to withdraw the EOT Application as the Board has taken into consideration that the resolution of the Petition is crucial to the completion of the Disposal and thus the Regularisation Plan. The Board had also taken into consideration the ability of certain shareholders to fund the Rights Issue is crucial to the completion of the Regularisation Plan. However, as at the date of this announcement, the timeline to resolve the Petition and to obtain funding for the Rights Issue cannot be ascertained.

As such, PIVB had on behalf of the Board, written to Bursa Securities on even date to withdraw the EOT Application and therefore the Company will not proceed with the implementation of the Regularisation Plan.

Pursuant to the decision letters from Bursa Securities dated 25 October 2013 and 27 April 2016 in relation to the approval of the Regularisation Plan as well as the earlier EOT Application, in the event that the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by Bursa Securities, the listed securities of Haisan shall be removed from the Official List of Bursa Securities upon expiry of two (2) market days from the date of notification or such other date specified by Bursa Securities to the Company.

This announcement is dated 28 September 2016.