We refer to the news article entitled “New Tech To Steer Progressive Impact’s Plans” reported in the Malaysian Reserve published on 7 October 2015 relating to the net profit growth of 10% to 15% annually starting from financial year 2016 of PICORP (“NP Growth”).

The Board of Directors of PICORP wishes to clarify that the NP Growth stated in the above news article is based on the Management's internal estimates and expectations of profit growth of new technologies only and not PICORP Group’s overall profit growth.

The quoted figures are not intended to refer to any financial estimates, forecast or projection of the PICORP Group and have not been reviewed by the external auditors.