The Liquidator wishes to announce that as part of the liquidation of the Company, the Company had on 6 May 2020 entered into an Asset Sale Agreement (“ASA”) with Pacific Petcare Sdn. Bhd. (as purchaser) (“PPSB”) and Mamee-Double Decker (M) Sdn. Bhd. (as guarantor) (“Mamee”) for the proposed disposal by the Company to PPSB of the following assets:

i.     seven (7) parcels of freehold industrial land together with buildings erected thereon held under GRN 136983 Lot No. 111737, GRN 136984 Lot No. 111738, GRN 136985 Lot No.  111739, GRN 136986 Lot No. 111740, GRN 136987 Lot No. 111741, GRN 136988 Lot No. 111742 and GRN 136989 Lot No. 111743, all in Mukim of Plentong, District of Johor Bahru, State of Johor (collectively referred to as the “Land & Buildings”);

ii.    plant & machinery located within the premises of the Land & Buildings (“Plant & Machinery”); and

iii.    intellectual property rights comprising certain trademarks and all goodwill associated with such trademarks (“Intellectual Property Rights”),

for a total cash consideration of RM70.0 million (the Land & Buildings, the Plant & Machinery and the Intellectual Property Rights shall collectively be referred to as the “Target Assets”) (“Proposed Disposal”).

Please refer to the attachment for the full announcement in relation to the Proposed Disposal.

This announcement is dated 6 May 2020.