We refer to our announcements dated 17 April 2025, 30 April 2025, 16 June 2025, 11 September 2025, 18 November 2025 and 17 December 2025 in connection with the Writ of Summon and Statement of Claim dated 30 August 2024 on the legal action initiated by MMSB.

In the main suit, Modkha Marine Sdn Bhd (MMSB) the Plaintiff, named Majuperak Holdings Berhad (MHB) and its wholly owned subsidiary, Majuperak Energy Resources Sdn Bhd (MERSB) as the Defendants and, amongst others, seeks:

(i) declaratory reliefs for the termination of the Kaolin Agreement for the extraction of raw kaolin from 34 acres of land in Lot 312363, Mukim Sungai Raya, Kinta, Perak;

(ii) the return of deposits and payments amounting to approximately RM3.90 million;

(iii) special damages of RM10,000; and

(iv) general damages of approximately RM427.4 million for alleged loss of profits and expected revenue.

The Company maintains that MHB was not a party to the Kaolin Agreement and was not involved in the dealings between MMSB and MERSB.

MERSB has also filed a counterclaim against MMSB and Seri Iskandar Development Corporation Sdn Bhd (SIDEC) in relation to the three plots of land in contention. MERSB had lodged private caveats over the said plots on 17 March 2025.

The Company wishes to announce that the High Court has set a date on 7 October 2026 for the parties, namely, MHB, MERSB, MMSB and SIDEC to file their Witness Statements. 

The next Case Management will also take place via Zoom on 7 October 2026.

This announcement is dated 9 September 2026.