Reference is made to the Company's announcements dated 31 March 2026 and 2 April 2026 (collectively, the "Announcements") and the Company's quarterly report on consolidated results for the financial period ended 30 June 2026 ("Quarterly Report"). Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as those used in the Announcements and the Quarterly Report.
As previously disclosed in the Quarterly Report (see page 25):
(a) the Company, its subsidiary, Lotte Chemical Titan (M) Sdn. Bhd. ("LCTM") and the Company's Chairman / Chief Executive Officer, Jang Seon Pyo (collectively, the "Defendants") each filed applications in the High Court seeking, among others, an order that all proceedings in the Suit be stayed pending the disposal of the arbitration proceedings between LCTM and the Plaintiff ("Defendants' Stay Applications");
(b) the Plaintiff also filed three interlocutory applications against the Defendants, namely: (i) an application seeking an injunction to restrain LCTM from commencing and/or continuing any arbitration proceedings against the Plaintiff ("Plaintiff's Anti-Arbitration Injunction Application"); (ii) an application seeking to disqualify the Defendants' solicitors from acting for the Defendants in the Suit ("Plaintiff's Disqualification Application"); and (iii) an application seeking discovery of certain documents from the Defendants ("Plaintiff's Discovery Application").
The Company wishes to inform that the High Court, on 25 September 2026, delivered its decision in respect of the above applications, as follows:
(a) the Defendants' Stay Applications were allowed. Costs of RM30,000 (subject to allocatur) were awarded to LCTM in respect of its stay application and is to be paid by the Plaintiff to LCTM forthwith;
(b) the Plaintiff's Anti-Arbitration Injunction Application was dismissed with no order as to costs; and
(c) the Plaintiff's Disqualification Application and the Plaintiff's Discovery Application were both stayed with the action, with costs in the cause.
The Company will make further announcements as and when there are any further material developments.
This announcement is dated 28 September 2026.