SOUTHERN STEEL BERHAD ("the Company")
- Article Entitled: "Tycoon Quek's Hong Leong considering sale of Southern Steel stake, sources say"

We refer to the attached article appearing in The Edge Malaysia dated 25 October 2023 in respect of the above subject matter.

In particular, we would like to draw your attention to the following:-

Hong Leong Group, a conglomerate controlled by billionaire Tan Sri Quek Leng Chan, is considering selling its majority stake in Southern Steel Bhd. and seeking a valuation of as much as US$200 million (RM944 million) for the unit, people familiar with the matter said.

The company is working with advisers on the planned divestment of its 70% stake in the Kuala Lumpur-listed arm, the people said. A deal could value Southern Steel Bhd between US$100 million to US$200 million, the people said.

    
In accordance with Bursa Malaysia Securities Berhad's ("Bursa Securities") Corporate Disclosure Policy, kindly furnish Bursa Securities with an announcement for public release confirming or denying the above reported article, in particular the above sentence after due and diligent enquiry with all the directors, major sharesholders and all such other person reasonably familiar with the matters about which the disclosure is to made in this respect. In the event you deny the above reported sentence or any other part of the article, you are required to set forth facts sufficient to support the same.

Please furnish Bursa Securities with your reply via Bursa Link by today.

Yours faithfully,
 

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Cc : Market Surveillance Dept. , Securities Commission