Pursuant to Paragraph 9.03 of Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of JCB wishes to inform that JASB had on 11 August 2023 received a Writ of Summons and Statement of Claim filed by Messrs. Nora S.W.Lam & Associates, the Solicitors acting on behalf of JKSB, the Plaintiff.

1) THE DATE OF THE PRESENTATION OF THE WRIT OF SUMMONS AND STATEMENT OF CLAIM AND THE DATE OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM WAS SERVED ON THE COMPANY

The Writ of Summons and Statement of Claim are both dated 3 August 2023. Both were received by JASB vide letter dated 3 August 2023 from Messrs. Nora S.W.Lam & Associates, the Solicitors acting on behalf of the Plaintiff on 11 August 2023.

2) THE PARTICULARS OF THE CLAIM UNDER THE WRIT OF SUMMONS AND STATEMENT OF CLAIM

The Plaintiff is seeking and claiming JASB the following:-

(i)     a sum of RM34,700.00 as payment for restoration works on the premises;

(ii)    a sum of RM5,271.65 as payment for the outstanding utility bills until 14 April 2023;

(iii)   a sum of RM667,847.57 as payment for monthly rent, marketing levy and outstanding service charges until 14 April 2023;

(iv)   interest of 2% every month on RM34,700.00 from the date of filing of this writ until full settlement;

(v)    interest of 2% every month on RM5,271.65 from the date of filing of this writ until full settlement;

(vi)   interest of 2% every month on RM667,847.57 from the date of filing of this writ until full settlement;

(vii)  the cost of this action; and

(viii) relief or other orders deemed appropriate, fair and expedient by this Honorable Court.

3) THE DETAILS OF THE DEFAULT OR CIRCUMSTANCES LEADING TO THE FILING OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM ON ITS SUBSIDIARY

The circumstances leading to the filing of the Writ of Summons and Statement by the Plaintiff was due to the claim that JASB had failed to pay the outstanding monthly rental, payment for restoration works and utility bills for a total sum of RM707,819.22.

4) THE FINANCIAL AND OPERATIONAL IMPACT OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM ON THE GROUP

Save for the amount of RM707,819.22 claimed by JKSB together with the interest to be charged on the outstanding amount and legal cost to be incurred by the Company, the litigation is not expected to have other financial and operational impact to the Group.

5) THE STEPS TAKEN AND PROPOSED TO BE TAKEN BY THE COMPANY IN RESPECT OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM

The Company is seeking the necessary legal advice to resolve and/or defense against this matter.

Further announcement(s) to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.

This announcement is dated 11 August 2023.