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We refer to Bursa Malaysia Securities Berhad’s letter Ref. No. IQL-30052022-00001 dated 30 May 2022 in relation to the article entitled “Potential restructuring of MRCB in the pipeline” published in The Edge Malaysia on 28 May 2022, in particular the following sentences reproduced:

1. “Malaysian Resources Corporation Berhad (“MRCB”) may be undergoing a restructuring exercise in the near future, with the Employees Provident Fund (“EPF”) - its largest shareholder with a 36.21% stake - taking the lead”.
2. “Maybank Investment Bank is understood to have been roped in by the retirement fund to help with the restructuring. Plans being explored for the property development and construction company include a merger or even a privatisation, but they are still at the exploratory stage”.
3. “Certain quarters also say that EPF could opt to privatise MRCB together with the current management under Tan Sri Mohamad Salim Fateh Din, MRCB's executive vice-chairman, and subsequently undertake a corporate exercise post privatisation”.
4. "However, sources familiar with the company say that a such a merger may only entail MRCB's construction arm, leaving the company as a pure property player”.

MRCB has made due and diligent enquiry with its directors, major shareholders and all such other persons reasonably familiar with the matter, hereinafter called “the Parties” and wishes to clarify that none of the Parties have any transaction plan for MRCB and have not engaged any Investment Banks for such transaction plan as speculated in the article.

MRCB wishes to clarify that the Company, alongside its major shareholders, will always consider and explore all potential opportunities and/or corporate proposals involving the businesses of MRCB Group in the best interest of MRCB and all shareholders.

However, MRCB wishes to further clarify that no proposal or offer in respect of restructuring exercise has been received from any party as at to date.

Should there be any material development on MRCB’s corporate exercises and proposals which warrants disclosure, the appropriate announcement will be made to Bursa Malaysia Securities Berhad accordingly.