Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the previous announcements dated 23 August 2024 and 14 October 2024 (“Announcements”).

Further to the Announcements made by the Company in relation to the Adjudication, the Company wishes to announce that on 15 January 2025 late evening, AJSB was notified by its appointed solicitors that they had on the same date received the Adjudication Decision dated 17 December 2024 in favour of AJSB.

The Adjudicator’s Decision is as follows:-

(i) Coneff shall pay AJSB the total adjudicated sum of RM10,412,117.79 and the costs of adjudication proceedings of RM126,349.34 (“Adjudicated Amount”) within 14 working days from the date of the Adjudication Decision.

(ii) The Adjudicated Amount shall be subject to a further simple interest rate at 5% per annum if the Adjudicated Amount remains unpaid after 14 working days from the date of the Adjudication Decision until full payment is made.

For the avoidance of doubt, AJSB had, prior to receiving the Adjudication Decision, received 2 payments from Coneff with details as follows:-
(i) Certificate of Payment No. 4: RM1,660,796.31, on 20 November 2024.
(ii) Certificate of Payment No. 5: RM2,928,382.78, on 15 January 2025.

The sums for Certificate of Payment No. 4 and Certificate of Payment No. 5 are part of the Adjudicated Amount.

The Company will make the appropriate announcements to Bursa Securities as and when there are material developments in relation thereto in accordance with the ACE Market Listing Requirements of Bursa Securities.

This announcement is dated 16 January 2025.