Date : 03 May 2011

MATERIAL LITIGATION Writ of Summons and Statement of Claims served to its wholly-owned subsidiary, Superview Development Sdn Bhd.

MALAYSIAN RESOURCES CORPORATION BERHAD

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionWrit of Summons and Statement of Claims served to its wholly-owned subsidiary, Superview Development Sdn Bhd.

Malaysian Resources Corporation Berhad wishes to announce that its wholly-owned subsidiary, Superview Development Sdn Bhd (“Superview”) has been served with 2 Writ of Summons and Statement of Claim dated 26 April 2011 from Messrs Affendi Zahari, the Solicitors representing 3 plaintiffs which were affected by the landslide incident at Bukit Antarabangsa on 6 December 2008. The total claim amounts to RM4.99 million. The amount of claims does not have any material effect to the financial position and will not have any operational impact on MRCB Group.

Superview is disputing the claims and has instructed its solicitors to file its defence to the claims.

Further information is as follows:

1. The Summons were received by Superview on 3 May 2011;
2. The rate of interest claimed is not mentioned in the summons;
3. Superview is not a major subsidiary of the Company;
4. The total cost of investment in Superview is about RM36.6 million which have been fully provided for;
5. At this initial stage, the Company does not expect to incur any losses arising from the summons;
6. Hearing dates have been fixed on 18 May 2011. Superview has to file its appearance by 10 May 2011.



Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced3 May 2011  
CategoryGeneral Announcement
Reference NoMR-110503-64426