We refer to the article titled ‘MAHB Should Explain What Happened’ appearing in The Edge Malaysia on 28 January 2019.

Firstly, we wish to highlight that all material disclosures and material developments that may change or affect the outcome of all legal actions have been made promptly by the Company and in a timely manner as required by Bursa Malaysia.

Normally, any material amendments in a Statement of Claim or Defence require leave from the Court. However, in relation to Syarikat Pembinaan Anggerik Sdn Bhd (SPASB)’s Amended Statement of Claim (“Amended SOC”), the amendments therein were made without the need for leave from the High Court. In addition, the amendments were made prior to the close of pleadings and before MAHB had filed its Defence.

Therefore, it is the Company’s view that the amendments made by SPASB through the Amended SOC are not considered as material development since it did not affect or change the outcome of the legal action or bring any severe impact to the Company as the amount claimed is subject to proof at the full trial of this case which is fixed in June 2019. Accordingly, the Company did not disclose the changes made by SPASB via the Amended SOC.

In reference to the Amended SOC, we wish to clarify that SPASB had changed its claims from RM43,992,292.78 to RM59,853,361.93. Such changes are largely made to the figures for two heads of claims, i.e. “Balance of Works” and “Interest charges”, which are often done in construction disputes.

This announcement is dated 31 January 2019