Reference is made to the letter dated 16 January 2024 from Bursa Malaysia Securities Berhad (“Bursa Securities”) pertaining to the sharp fall in the price of the shares of Sarawak Consolidated Industries Berhad (“SCIB” or “the Company”) recently (“trading activity”). In accordance with Paragraph 9.11 of the Main Market Listing Requirements (“LR”) of Bursa Securities, the Board of Directors of SCIB (“the Board”), after having made due inquiries with all the Directors, major shareholders and such other relevant persons, wishes to inform that to the best of their knowledge, the following:

1. Whether there is any corporate development relating to your Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion. If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions;

The company had on 4 January 2024 received the letter of offer from the Land and Survey department of Sarawak to acquire some parcels of land measuring approximately 22 acres in size for the purpose of expanding the production capacity of the group. The management is in the midst of discussion and considering on the acceptance of this proposal. The Board believes that it would be more appropriate to release announcement(s) to Bursa Securities once the decision is made. Save for the above, the Board is not aware of any corporate development relating to the Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion.

2. Whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity and in this respect, you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities LR;

The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activity.

3. Whether you are aware of any other possible explanation to account for the trading activity; and

The Board is not aware of any other possible explanation to account for the trading activity.

4. Whether you are in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa securities LR on immediate disclosure obligations.

The Company and the Board are in compliance with the LR of Bursa Securities, in particular Paragraph 9.03 of the LR of Bursa Securities on the immediate disclosure obligations.

This announcement is dated 17 January 2024.