MATERIAL LITIGATION LEGAL SUIT AGAINST PT ANGLO SLAVIC UTAMA (“1st Defendant”), TEY POR YEE (“2nd Defendant”) AND OOI KOCK AUN (“3rd Defendant”)

As announced previously on 22 June 2015, Protasco Berhad (“Company”) has initiated legal proceedings against PT Anglo Slavic Utama (“1st Defendant”) and two of its former directors, namely Tey Por Yee (“2nd Defendant”) and Ooi Kock Aun (“3rd Defendant”) and the said legal proceedings is fixed for trial on 1 October 2015 to 2 October 2015.

The Company announced that all the 3 Defendants have filed an application for a stay of the legal proceedings pending arbitration respectively (“stay applications”). The Company also announced that the court has fixed a date on 24 July 2015 to hear the stay applications. The court has heard parties’ submissions in relation to the 1st Defendant’s stay application only on 19 June 2015 and 24 July 2015.

The Company wishes to announce that the court dismissed the 1st Defendant’s stay application on 11 August 2015 with costs in the cause of the action. A case management date is fixed on 18 August 2015 for the 1st Defendant to update the court on whether the 1st Defendant intends to take this matter up on appeal and also case management for the 2nd and 3rd Defendant’s stay applications.