Reference is made to the Company’s announcement on 15 November 2018. The Notice of Application for Stay of Execution filed by HCM Engineering Sdn Bhd (“HCM”), a subsidiary of the Company, was brought forward for hearing on 22 November 2018, whereby the parties have consented on the following terms:-

a)         HCM will pay the Respondent, Kuasatek (M) Sdn Bhd (“Kuasatek”)  the Adjudicated Sum amounting to RM3,116,428.49 by 27 November 2018;   

b)         In the event that HCM won its appeal to Court of Appeal and the sum which HCM is liable to pay pursuant to the outcome of the said appeal is less than the sum paid under (a)   
            above,  Kuasatek undertakes to refund the excess paid by HCM accordingly.