INVESTOR RELATIONS

The Company wishes to announce that Naim Land Sdn. Bhd. ("NLSB"), a wholly-owned subsidiary of the Company, has on 21 March 2017 received a Writ of Summons dated 20 March 2017 claiming Native Customary Rights ("NCR") over an area of land of about 47.15 acres comprising an area of 35.42 acres on the left side of Sungai Adong Besar and about 11.73 acres on the right side (collectively referred to as "alleged temuda land") from Maimunah Binti Mardan & Anor, suing in a representative capacity.  The defendants named are NLSB as the 1st Defendant, Superintendent Land and Survey, Miri as the 2nd Defendant and the Government of Sarawak as the 3rd Defendant.

The Court has fixed the matter for mention on 5 May 2017.

The Company further wishes to inform that the claim affects parts of the parcels of land described as Lots 8837 and Lot 6182 both of Block 11 Kuala Baram Land District and Lot 820 Block 13 Kuala Baram Land District which were subdivided from the original Provisional Lease Lot 772 Block 13 Kuala Baram Land District alienated to the 1st Defendant on 21 August 1997.

The Company is of the view that it has a good defense to the Plaintiffs' claim.

The Company is seeking advice from its legal advisors and has instructed the said legal advisors to take all necessary steps to vigorously defend the Company’s interest and position. 

Further development of the litigation will be announced to Bursa Malaysia from time to time.

This announcement is dated 27 March 2017.