Bursa Announcement

Reference is made to the Company’s announcement on 9th November 2017 pertaining to a suit against Gemilang Waras Sdn. Bhd. (496922-H) (“the Defendant”) in the High Court of Malaya in Kuala Lumpur on the renewal of lease for AEON Mall Bukit Tinggi.

The Board of Directors of the Company wishes to update that the Company has on 7th December 2017 received a counterclaim from the Defendant under the Notice of Application No. WA-24NCC-488-11/2017 in the High Court of Malaya at Kuala Lumpur.

In the abovementioned counterclaim, the Defendant is alleging that the Company’s continued occupation of AEON Mall Bukit Tinggi constitutes trespass and holding over AEON Mall Bukit Tinggi after the expiration of the Lease Agreement on 23rd November 2017 and claiming among others reliefs as stated below:-

1. To strike off and dismiss the Company’s suit;
2. To order the Company to deliver the vacant possession of AEON Mall Bukit Tinggi within 14 days from the date of court order;
3. To seek damages in the form of double rental from 23rd November 2017 until the date of delivery of vacant possession of AEON Mall Bukit Tinggi;
4. To seek any other assessment of damages that the court deems just and necessary;
5. To seek costs for the dismissal on the Company’s suit and the counterclaim; and
6. Any further orders and reliefs that the court deems fit.

The said suit is not expected to have any material financial or operational impact on the Company for the financial year ending 31st December 2017.

If there is any development on the above suit, furtherance announcement will be made.

This announcement is dated 7th December 2017.