Reference is made to the announcements dated 6 September 2021, 13 September 2021, 17 December 2021, 7 January 2022, 9 February 2022, 29 April 2022 and 30 May 2022 made by MPCORP. The terms herein shall bear the same meaning as defined in the said announcement.

The Board of Directors of MPCORP wishes to inform that the Parties had attended the Case Management held on 15 June 2022 to update the Court on the status of settlement between the Parties. There is a partial reduction on the Defendant’s assessment for the Real Property Gains Tax (“RPGT”) and the Defendant had applied for instalment payment for the remaining amount of the RPGT.

The Plaintiff’s solicitors informed the Court that the Plaintiff had received all the supporting documents without prejudice together with the advance payment cheque amounting RM1.2 million and 12 post dated cheques for the 12 months instalment payment application from the Defendant on 8 June 2022. The instalment payment application is pending for the approval of the Director for the Legal branch for Inland Revenue Board of Malaysia and also waiting for the clearance of an advance payment cheque of RM1.2 million to ensure the commitment of the Defendant to the instalment payment application.

The Court noted on the above and had fixed a Case Management on 6 July 2022 via e-review for the Parties to update the Court on the status of settlement between the Parties.

The Company will announce further development pertaining to the above matters as and when necessary.

This announcement is dated 20 June 2022.