Unless otherwise defined, all defined terms used in the announcement shall have the same meaning as defined in the Company announcements dated 23 June 2021 and 27 August 2021.

The Company wishes to announce that its wholly-owned subsidiary, OCR Construction Sdn Bhd (“OCRCSB”), 90% owned subsidiary, OCR Properties (Kuantan) Sdn Bhd (“OCRPKSB”) and Kencana Amanjaya Sdn Bhd (“KASB”) have reached an amicable settlement by entered into a Settlement Agreement (“SA”) to effect an amicable resolution of the disputes and differences between KASB on the one part, and OCRCSB and OCRPKSB on the other part by way of settlement sum payable by OCRCSB and/or OCRPKSB to KASB in the manner as set out in the SA. Except for the obligations set out in the SA, the SA shall operate as the full and final settlement of, and each party hereby unconditionally and irrevocably fully and forever releases and discharges each other from the released matters.

This announcement is dated 27 January 2022.