The Board of Directors of Ahmad Zaki Resources Berhad (“AZRB” or “the Company”) wishes to announce that Betanaz Properties Sdn Bhd (“Plaintiff”), a 51%-owned subsidiary of the Company had on 2 March 2021 served a Writ and Statement of Claim (“Claim”) on AEON Co. (M) Bhd (“Defendant”) pertaining to the breach of Tenancy Agreement by the Defendant which was entered into between the Plaintiff and Defendant on 24 August 2017 where the Plaintiff granted to the Defendant a tenancy and lease of a plot of land held under H.S.(D) 59653, PT No. 145020, Mukim Kuala Kuantan,  Daerah Kuantan, Pahang for the Defendant to construct and thereafter, to operate a commercial shopping complex. The Tenancy Agreement was subsequently supplemented and/or amended by a Supplementary Tenancy Agreement dated 13 September 2019.

The Plaintiff is claiming against the Defendant for the following:

(1) Judgment in the sum of RM59,302,302.97, or such other amount as assessed by the Court;

(2) in the alternative to (1) above, Judgment in the sum of RM18,936,207.76, or such other amount as assessed by the Court;

(3) interest at such rate and for such period as the Court deems fit and just;

(4) costs; and

(5) such further and or other relief as the Court deems fit and just.

The Board of Directors is of the opinion that the Claim by Plaintiff is in the best interest of AZRB Group.

This announcement is dated 4 March 2021.