We refer to the Company's announcements made on 2 May 2023 (Ref No. GA1-02052023-00074), 3 May 2023 (Ref No. GA1-03052023-00046), 21 September 2023 (Ref No. GA1-21092023-00043), 4 October 2023 (Ref No. GA1-27092023-00057), 22 March 2024 (Ref No. GA1-22032024-00041) and 3 January 2025 (Ref No. GA1-03012025-00011) in relation to a Writ of Summons and Statement of Claim dated 20 April 2023 filed at the High Court of Malaya at Kuala Lumpur (WA-22NCvC-202-04/2023) (“Suit”). The Suit was commenced by K.S. LEE ENERGY LLP (“Plaintiff”) through its solicitors in relation to a Project Success Fee Agreement (“Agreement”) dated 28 January 2018 between the Company’s wholly owned subsidiary, Toyo Ink Group Berhad (“TIGB”) and the Plaintiff, and the Plaintiff’s appeal to the Court of Appeal against the judgment by the High Court of Malaya on 4 October 2023 in favour of TIGB (“Appeal”), which was heard by the Court of Appeal on 9 December 2024, with its decision reserved for a later date. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the announcements.

The Board of Directors of TVHB wishes to announce that on 12 March 2025, the Court of Appeal delivered its decision, dismissing the Plaintiff’s Appeal and awarding costs of RM20,000.00 to TIGB. 

This announcement is dated 12 March 2025.