Reference is made to the litigation involving Sabah Forest Industries Sdn Bhd and the Company’s subsidiary, UNP Plywood Sdn Bhd (Company No. 186975-A) (“UNP”)
in the Company’s latest financial results announcement for the quarter ended 30 June 2014.
The Company would like to update the Exchange that UNP’s solicitors had vide their letter dated 11 September 2014 informed that at the hearing held on
11 September 2014, the Kota Kinabalu High Court ("High Court") has awarded a sum of Ringgit Malaysia Sixty One Million Two Hundred and Twenty Two Thousand One Hundred
and Three and Sen Eighty Six (RM61,222,103.86) only (“the said Sum”) as damages to UNP with interest on the said Sum at the rate of eight per centum (8%)
per annum from June 1997 to February 2008 and thereafter at the statutory interest on the said Sum from 28February 2008 till date of full and final settlement.
The Company shall take action to enforce the High Court Order forthwith.
This announcement is dated 11 September 2014.