Reference is made to the following announcements made by the Company:- 

(a) Announcement made by the Company dated 20 February 2025 in relation to the adjudication proceedings bearing Adjudication Reference No. AIAC/D/ADJ-5778-2025 initiated by Pemborong Asas Sdn. Bhd. [Registration No. 200101027978 (563736-U)] (“1st Party”) against Wah Mie Realty Sdn. Bhd. [Registration No.197901003389 (47669-A)], a subsidiary of the Company (“2nd Party”) pursuant to the Construction Industry Payment and Adjudication Act 2012 (“CIPAA”). The 1st Party sought a claim for a sum of RM579,885.84 which represents liquidated damages deducted by the 2nd Party from interim payments.

(b) Announcements made by the Company dated 3 March 2025, 10 April 2025, 25 March 2025 and 25 April 2025 in relation to the adjudication proceedings bearing Adjudication Reference No. AIAC/D/ADJ-5892-2025 initiated by the 1st Party against the 2nd Party pursuant to the CIPAA. The 1st Party claimed a sum of RM1,351,980.64, which represents the balance retention sum being due and payable to the 1st Party by the 2nd Party. The 1st Party subsequently withdrew the claim via a Notice of Withdrawal of Adjudication dated 24 April 2025.

(c) Announcement made by the Company on 18 February 2025, 6 March 2025, 26 March 2025, 29 April 2025 and 5 May 2025 in relation to:-

(i) Civil suit bearing Suit No. BKI-B52-14-10/2024(SC2) brought by Wah Mie Trading Sdn. Bhd. [Registration No. 197801006410 (43446-M)] (“3rd Party”) against the 1st Party as principal debtor and its Directors, Mr. Lu Kin Yip, Mr. Chow Man Fui and Mr. Ang Chun Hock (“1st Party’s Directors”) as guarantors, for RM496,291.86 and interests, representing the outstanding principal sum for building materials supplied to the 1st Party. Conversely, the 1st Party and its Directors have jointly filed a counterclaim as stated in the company’s announcement made on 18 February 2025. Subsequently, the 3rd Party filed an application to strike out the counterclaim filed by the 1st Party and its Directors.

(ii) Transfer of proceedings from the Sessions Court under Suit No. BKI-B52-14-10/2024 (SC2) to the High Court with Originating Summons No. BKI-24NCvC-52-3/2025 (HC2) both between the 1st Party, 1st Party’s Directors and 3rd Party.

The Board of WMG wishes to inform that all the parties mentioned above (collectively referred to as “Parties”) are now desirous of settling in full and final settlement all disputes, claims, suits and proceedings arising from or in connection with the above adjudication proceedings and civil suit. The Parties had, on 11 June 2025 entered into a Deed of Release and Settlement (“Deed”).

The salient terms of the Deed include:-

(a) The Deed constitutes a global, full and final settlement of the above claims and actions;

(b) The 2nd Party and/or 3rd Party have agreed to pay the 1st Party a settlement sum of RM850,000.00 (“Settlement Sum”) as full and final payment of the claim to the 1st Party.

(c) The Settlement Sum shall be paid to the 1st Party strictly upon the fulfilment of the following conditions:-

(i) The Parties have duly executed the Deed; and

(ii) Within fourteen (14) days from the receipt of written confirmation from the solicitors of the 1st Party and/or its Directors that all suits, claims and proceedings involving the Parties arising from or in connection with the above claims have been fully and finally withdrawn or discontinued with no order as to costs and with no liberty to file afresh. Such confirmation must be accompanied by the relevant notices of withdrawal or discontinuance duly sealed by the court.

(d) Within fourteen (14) days from the receipt of the written confirmation from the solicitors of the 1st Party and/or 1st Party’s Directors, the 3rd Party’s solicitors shall cause the filing of the relevant notice of withdrawal or discontinuance in Suit No. BKI-24NCvC-52-3/2025 (SC2). Thereafter, the Parties shall mutually release and discharge each other from any and all claims, suits, disputes, demands or proceedings, or any further actions arising from or in connection to the project.

Further announcement(s) are to be made by the Company regarding any material developments, including upon conclusion and final resolution of the above matter.

This announcement is dated 13 June 2025.