Sarawak Consolidated Industries Berhad (“the Company”) wishes to announce that it had on 11 January 2019 received Notice from the Directors of Carlton Gardens Sdn. Bhd. (“CGSB”) (Company No. 1159779-U), a wholly owned subsidiary of the Company that CGSB cannot by reasons of its liabilities continue its business, and the Directors of CGSB have made a statutory declaration to that effect pursuant to Section 440(1) of the Companies Act 2016, and that Mr. Wong Ching Yong (NRIC No : 580108-13-5155) has been appointed as the Interim Liquidator.

This development is not expected to have material effect on the share capital of SCIB Group, except for additional provision for impairment of investment in subsidiary for an amount up to RM11 million (including advances) that may affect earnings per share, gearing and net assets per share, subject to year end adjustment and auditor’s assessment for the financial year ending 31 December 2018. There is no material impact on SCIB Group’s operating cashflow.

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest, direct or indirect in the voluntary winding-up.

This announcement is dated 11 January 2019.