【OCR 7071 交流专区】（前名 TAKASO）

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OCR GROUP BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Private Placement
Details of corporate proposal	PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF OCR GROUP BERHAD
No. of shares issued under this corporate proposal	29,239,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.2800
Par Value($$) (if applicable)
Latest issued share capital after the above corporate proposal in the following
Units	321,764,219
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 95,693,595.750
Listing Date	09 Jan 2019

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Notice of Interest Sub. S-hldr (Section 137 of CA 2016)

OCR GROUP BERHAD

Particulars of Substantial Securities Holder

Name	DATO' KOON POH TAT
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary Shares
Name & address of registered holder	Dato' Koon Poh TatNo. 45, Lot 443Jalan Pelangi PagiKajang Country Heights 43000 KajangSelangor Darul Ehsan

Date interest acquired & no of securities acquired
Date interest acquired	07 Jan 2019
No of securities	29,239,000
Circumstances by reason of which Securities Holder has interest	Acquisition of shares from the private placement
Nature of interest	Direct Interest
Total no of securities after change
Direct (units)	29,239,000
Direct (%)	9.087
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Date of notice	09 Jan 2019
Date notice received by Listed Issuer	09 Jan 2019

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OCR GROUP BERHAD

EX-date	12 Feb 2019
Entitlement date	14 Feb 2019
Entitlement time	05:00 PM
Entitlement subject	Bonus Issue
Entitlement description	BONUS ISSUE OF UP TO 129,205,679 NEW OCR WARRANTS ("WARRANTS D") ON THE BASIS OF 2 WARRANTS D FOR EVERY 7 EXISTING ORDINARY SHARES IN OCR HELD BY ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 PM ON 14 FEBRUARY 2019 ("ENTITLEMENT DATE") ("BONUS ISSUE OF WARRANTS")
Period of interest payment	to
Financial Year End	31 Dec 2019
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301Petaling JayaTel:0378490777Fax:0378418151
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	14 Feb 2019
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Ratio
Ratio	2 : 7

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Profile for Securities of PLC

OCR GROUP BERHAD

Instrument Category	Securities of PLC
Instrument Type	Warrants
Description	BONUS ISSUE OF 91,967,721 NEW WARRANTS IN OCR GROUP BERHAD ("OCR" OR THE "COMPANY") ("WARRANTS D") ON THE BASIS OF 2 WARRANTS D FOR EVERY 7 EXISTING ORDINARY SHARES IN OCR ("OCR SHARES" OR "SHARES") HELD BY THE ENTITLED SHAREHOLDERS OF OCR AT 5.00 P.M. ON 14 FEBRUARY 2019

Listing Date	22 Feb 2019
Issue Date	19 Feb 2019
Issue/ Ask Price	Not Applicable
Issue Size Indicator	Unit
Issue Size in Unit	91,967,721
Maturity	Mandatory
Maturity Date	18 Feb 2022
Revised Maturity Date
Name of Guarantor	Not Applicable
Name of Trustee	Not Applicable
Coupon/Profit/Interest/Payment Rate	Not Applicable
Coupon/Profit/Interest/Payment Frequency	Not Applicable
Redemption	Not Applicable
Exercise/Conversion Period	3.00   Year(s)
Revised Exercise/Conversion Period	Not Applicable
Exercise/Strike/Conversion Price	Malaysian Ringgit (MYR)   0.2200
Revised Exercise/Strike/Conversion Price	Not Applicable
Exercise/Conversion Ratio	1:1
Revised Exercise/Conversion Ratio	Not Applicable
Mode of satisfaction of Exercise/ Conversion price	Cash
Settlement Type/ Convertible into	Physical (Shares)

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		Two Months	Two Months	Seventeen Months	Seventeen Months
		01 Nov 2018 To	01 Nov 2017 To	01 Aug 2017 To	01 Aug 2016 To
		31 Dec 2018	31 Dec 2017	31 Dec 2018	31 Dec 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	2,447	0	74,957	0
2	Profit/(loss) before tax	-15,840	0	-5,545	0
3	Profit/(loss) for the period	-15,200	0	-7,039	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-9,706	0	-7,004	0
5	Basic earnings/(loss) per share (Subunit)	-3.32	0.00	-2.43	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.3200		0.3700

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icy97 发表于 18-7-2017 11:10 PM
OCR公司获3.24亿合约

2017年7月19日
（吉隆坡18日讯）OCR公司（OCR，7071，主板消费产品股）获白沙罗实业（DBHD，3484，主板产业股）子公司Damansara Realty（柔佛）私人有限公司颁发总值3亿2400万令吉合约。
...

Type	Announcement
Subject	OTHERS
Description	Termination of the Letter of Award between Damansara Realty (Johor) Sdn. Bhd., a subsidiary of Damansara Realty Berhad, with OCR Group Berhad for the project, Perumahan Penjawat Awam 1Malaysia situated in Putrajaya.
Unless otherwise defined, all defined terms used in the announcement shall have the same meaning as defined in the company announcement dated 18 July 2017. Further to the Company’s announcement dated 18 July 2017 (Ref No.GA1-18072017-00044), the Board of Directors of OCR Group Berhad (“OCR” or “the Company”) wishes to announce that the Letter of Award dated 17 July 2017 ("LOA") entered in between Damansara Realty (Johor) Sdn. Bhd. (“DRJ”), a subsidiary of Damansara Realty Berhad, with OCR  for the appointment as the Turnkey Contractor for Pembangunan Perumahan Penjawat Awam 1Malaysia (PPA1M) Project had been terminated due to Perbadanan Putrajaya (“PJC”) issuance of Notice of Termination dated 22 February 2019, received by DRJ on 25 February 2019 with a reason of national and public interests. The 3 months’ notice for the said termination shall be effective from 25 February 2019. Upon the execution of the LOA, OCR had paid RM3.18 million (including 6% GST) as deposit to DRJ and the said sum is refundable by DRJ to the Company. This announcement is dated 1 March 2019.

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Type	Announcement
Subject	OTHERS
Description	MEMORANDUM OF UNDERSTANDING BETWEEN HARDIE DEVELOPMENT SDN. BHD. AND O&C CONSTRUCTION SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF OCR GROUP BERHAD
The Board of Directors of OCR Group Berhad (“OCR” or the “Company”) wishes to announce that O&C Construction Sdn. Bhd. (“OCCSB”), one of its wholly-owned subsidiaries of OCR, had on 25 March 2019, signed a Memorandum of Understanding (“MOU”) with Hardie Development Sdn. Bhd. (“HDSB”). Please refer to the attached file for details of the announcement. This announcement is dated 25 March 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6103789

Attachments OCR-MOU between HDSB and OCCSB.pdf

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Type	Announcement
Subject	OTHERS
Description	Joint Venture Agreement between Duta Skyline Sdn. Bhd, a wholly-owned subsidiary of Seacera Group Berhad, and Amazing Symphony Sdn. Bhd. a wholly owned subsidiary of OCR Group Berhad, in relation to the development of the Project Land into a mixed development.
The Board of Directors of OCR Group Berhad (“OCR” or the “Company”) wishes to announce that Amazing Symphony Sdn Bhd (“Amazing Symphony”), a wholly-owned subsidiary of OCR, had on 22 April 2019, entered into a joint venture agreement (“JV Agreement”) with Duta Skyline Sdn. Bhd. (“Duta Skyline”), a wholly-owned subsidiary of Seacera Group Berhad (“Seacera”). Please refer to the attached file for details of the announcement. This announcement is dated 22 April 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6132617

Attachments OCR-Joint Venture Agreement in between Amazing Symphony and Duta Skyline.pdf

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Type	Announcement
Subject	OTHERS
Description	Joint Venture Agreement between Duta Skyline Sdn. Bhd, a wholly-owned subsidiary of Seacera Group Berhad, and Amazing Symphony Sdn. Bhd. a wholly owned subsidiary of OCR Group Berhad, in relation to the development of the Project Land into a mixed development.
Unless otherwise defined, all defined terms used in the announcement shall have the same meaning as defined in the company announcements dated 22 April 2019. Reference is made to the Company’s announcement dated 22 April 2019 (Ref No. GA1-19042019-00066) in relation to the Joint Venture Agreement entered into between Amazing Symphony Sdn. Bhd., a wholly-owned subsidiary of OCR, with Duta Skyline Sdn. Bhd. (“Duta Skyline”), a wholly-owned subsidiary of Seacera Group Berhad to develop a parcel of freehold land held under GRN 23940, Lot 613, Mukim Ulu Semenyih, Daerah Ulu Langat, Selangor Darul Ehsan measuring approximately 501.5 acres owned by Duta Skyline (the “Land”). The Board of Directors of OCR wishes to provide the following information:- (a) The breakdown of the Gross Development Value (“GDV”) RM10 billion are as below: Category Type of Development Estimated GDV (RM) Low-rise landed development Landed residential components such as terrace, semi-detached, bungalows and townhouses and landed commercial shop units and shopping complexes 5.3 Billion High-rise strata development Such as condominiums, service apartments and purpose-built office suites 4.7 Billion Total 10.0 Billion (b) The basis of arriving at Duta Skyline’s entitlement of 22% and 18% respectively, was arriving after taking into consideration of both parties’ expected return and common practice of the industry. (c) Under the Section 4.1 (i) of the Announcement dated 22 April 2019, Amazing Symphony is given a period of 5 years to obtain the approvals from the relevant authorities after taking into consideration of the size and condition of the subject land. (d) The basis of arriving at the rate of RM1.20 per tonne of aggregate sale is based on offered received from several potential quarry operators between RM1.00 to RM1.50 per tonne. This announcement is dated 26 April 2019.

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Type	Announcement
Subject	OTHERS
Description	Joint Venture Agreement between Dnonce Properties Sdn. Bhd., a wholly-owned subsidiary of Dnonce Technology Bhd, and Fajar Simfoni Sdn. Bhd. a wholly owned subsidiary of OCR Group Berhad.
Pursuant to Paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of OCR (the “Board”) wishes to announce that Fajar Simfoni Sdn. Bhd. (“FSSB”), a wholly-owned subsidiary of OCR, had on 17 May 2019, entered into a joint venture agreement (“JV Agreement”) with D’nonce Properties Sdn. Bhd. (“DNP”), a wholly-owned subsidiary of D’nonce Technology Bhd (“D’nonce”). Please refer to the attached file for details of the announcement. This announcement is dated 17 May 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6164569

Attachments OCR-Joint Venture Agreement in between Fajar Simfoni SB and Dnonce Properties SB.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2019	31 Mar 2018	31 Mar 2019	31 Mar 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	21,793	0	21,793	0
2	Profit/(loss) before tax	1,870	0	1,870	0
3	Profit/(loss) for the period	1,519	0	1,519	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,517	0	1,517	0
5	Basic earnings/(loss) per share (Subunit)	0.48	0.00	0.48	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.2700		0.3200

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Date of change	29 May 2019
Name	MR TEE TZE CHERN
Age	54
Gender	Male
Nationality	Malaysia
Designation	Executive Director
Directorate	Executive
Type of change	Retirement

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OCR GROUP BERHAD

Date of change	30 Jun 2019
Name	MR TAN BAN TATT
Age	41
Gender	Male
Nationality	Malaysia
Type of change	Resignation
Designation	Chief Financial Officer
Reason	Pursue other personal interests

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OCR GROUP BERHAD

Date of change	19 Aug 2019
Name	MR WONG JYH JUAN
Age	40
Gender	Male
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Financial Officer

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Masters Business Administration MBA (Distinction) The University of Nottingham 2 Degree Accounting (Hons) Universiti Tenaga Nasional 3 Professional Qualification Fellow Member of Association of Chartered Certified Accountants (FCCA) Association of Chartered Certified Accountants (FCCA) 4 Professional Qualification Chartered Accountant Malaysia (C.A.(M)) Chartered Accountant Malaysia (C.A.(M)) 5 Professional Qualification Certified Internal Auditor (CIA) Certified Internal Auditor (CIA)
Working experience and occupation	Juan was previously the CFO and Assistant Regional President for the Malaysia region of Country Garden Holdings Co. Ltd. ("CG"). He rose through the ranks of the company with merit, during his five (5) years stint with CG between 2014 - 2019. Juans roles and responsibilities were mainly overseeing the Finance and Treasury function of the Malaysia region, with direct reporting to the Regional President and CG headquarters. He played an instrumental role in CGs fast growth within Iskandar Malaysia and Klang Valley, such as the development of Country Garden Danga Bay, Diamond City, Forest City, Central Park and Lake City projects. He managed to assist CG in building a well-diversified funding sources, as well as a strong network with various financial institutions, rating agencies and investors base in the region. This includes the recognition of CG as the 1st Chinese corporate to set up the award-winning RM1.5billion MYR Sukuk programme, with few tranches issued since 2015.Prior to that, Juan was with CIMB Investment Bank Bhd (CIMB) for around seven (7) years since 2007. His last held position was as the Associate Director of Investment Banking division, mainly involved in driving key leads, managing and execution of equity / debt capital markets deals, banking and treasury, as well as myriad of universal banking products. Juans client base were mainly local private / public listed companies, and multinational corporate clients.During the early years of career development between 2002 - 2005, Juan was in assurance services with Deloitte and Ernst & Young. He worked as the external financial auditor for interim and final audits engagements involving various industries such as banking, real estate, manufacturing and trading. He was also involved as the due diligence auditor for M&A exercises, as well as the Reporting Accountant for IPOs.

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2019	30 Jun 2018	30 Jun 2019	30 Jun 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	21,142	0	42,935	0
2	Profit/(loss) before tax	3,135	0	5,005	0
3	Profit/(loss) for the period	2,917	0	4,436	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,968	0	4,485	0
5	Basic earnings/(loss) per share (Subunit)	0.93	0.00	1.40	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.2700		0.3200

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2019	30 Sep 2018	30 Sep 2019	30 Sep 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	17,659	0	60,594	0
2	Profit/(loss) before tax	2,752	0	7,757	0
3	Profit/(loss) for the period	1,889	0	6,325	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,976	0	6,461	0
5	Basic earnings/(loss) per share (Subunit)	0.61	0.00	2.00	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.2700		0.3200

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Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) COMBINATION OF NEW ISSUE OF SECURITIES
Description	OCR GROUP BERHAD (''OCR'' OR THE ''COMPANY'')(I)        PROPOSED SHARE ISSUANCE; AND(II)        PROPOSED ESOS(COLLECTIVELY REFERRED TO AS THE ''PROPOSALS'')
On behalf of the Board of Directors of OCR (“Board”), Mercury Securities Sdn Bhd (“Mercury Securities” or the “Principal Adviser”) wishes to announce that the Company had on 17 December 2019 entered into a conditional subscription agreement with Macquarie Bank Limited (“Macquarie Bank” or the “Investor”) (“Subscription Agreement”) in relation to the proposed allotment and issuance of up to 98,600,000 new ordinary shares in OCR (“OCR Shares” or “Shares”) to the Investor (“Subscription Shares”) in accordance with the terms and conditions of the Subscription Agreement (“Proposed Share Issuance”). In addition to the above, Mercury Securities wishes to announce that the Company is proposing to undertake the proposed establishment of an employees’ share option scheme (“ESOS” or “Scheme”) involving up to 15% of the total number of issued shares of the company (excluding treasury shares, if any) for eligible directors and employees of the company and its subsidiaries (“Proposed ESOS”). Please refer to the attachment for further details on the Proposals. This announcement is dated 17 December 2019.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3010246

Attachments OCR - Proposals.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2019	31 Dec 2018	31 Dec 2019	31 Dec 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	21,236	0	81,830	0
2	Profit/(loss) before tax	2,878	0	10,635	0
3	Profit/(loss) for the period	2,713	0	9,038	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,460	0	8,921	0
5	Basic earnings/(loss) per share (Subunit)	0.76	0.00	2.75	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.2600		0.3200

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icy97 发表于 25-6-2019 04:56 AM
http://www.bursamalaysia.com/market/listed-companies/company-announcements/6164569

Type	Announcement
Subject	OTHERS
Description	Termination of Joint Venture Agreement between D'nonce Properties Sdn. Bhd., a wholly-owned subsidiary of D'nonce Technology Bhd, and Fajar Simfoni Sdn. Bhd. a wholly owned subsidiary of OCR Group Berhad.
Unless otherwise defined, all defined terms used in the announcement shall have the same meaning as defined in the company announcement dated 17 May 2019. Further to the Company’s announcement dated 17 May 2019, the Board of Directors of OCR Group Berhad ("OCR") wishes to announce that Fajar Simfoni Sdn. Bhd., a wholly-owned subsidiary of OCR, had on 10 March 2020 terminated the Joint Venture Agreement dated 17 May 2019 (“JVA”), entered with D’nonce Properties Sdn. Bhd. (“DNP”), a wholly-owned subsidiary of D’nonce Technology Bhd (“D’nonce”) and reserve the rights to claim against DNP under the JVA and the laws. The termination will not have any material effect on the earnings or net assets of OCR for the financial year ending 31 December 2020. None of the directors or substantial shareholders of OCR and persons connected to them have any interest, direct or indirect, in the above-mentioned termination. This announcement is dated 10 March 2020.

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Type	Announcement
Subject	OTHERS
Description	Termination of Joint Venture Agreement between D'nonce Properties Sdn. Bhd., a wholly-owned subsidiary of D'nonce Technology Bhd, and Fajar Simfoni Sdn. Bhd. a wholly owned subsidiary of OCR Group Berhad.
Unless otherwise defined, all defined terms used in the announcement shall have the same meaning as defined in the company announcements dated 17 May 2019 and 10 March 2020. Further to the Company’s announcements dated 17 May 2019 and 10 March 2020, the Board of Directors of OCR Group Berhad ("OCR" or the “Company”) wishes to inform the Exchange that the termination of the Joint Venture Agreement dated 17 May 2019 (“JVA”), previously entered between D’nonce Properties Sdn. Bhd. (“DNP”), a wholly-owned subsidiary of D’nonce Technology Bhd (“D’nonce”) and Fajar Simfoni Sdn. Bhd.(“FSSB”), a wholly owned subsidiary of OCR Group Berhad (“OCR”) is due to, amongst others, the following breaches of JVA by DNP:- 1. Major gap in the number of units reserved and payment of deposits received not directed to FSSB Pursuant to the JVA, DNP have represented to FSSB that there were approximately 80% of the units reserved by potential purchasers and that all the relevant payment of deposits received shall immediately be directed to FSSB upon execution of the JVA. However, only approximately 40% of the total units have been handed over to FSSB as at the date of termination of the JVA. In addition, neither FSSB nor FSSB’s appointed stakeholder received payment of deposits as required under the JVA to be transferred to FSSB immediately upon execution of the JVA. 2. Outstanding payment to the consultants for work done prior to the JVA Pursuant to the JVA, all the costs and expenses incurred for the engagement of the consultants for the Project prior to the date of the JVA shall be solely borne by DNP. FSSB understand from the consultants of the project that DNP have not made the necessary payment to them for their respective outstanding sum and as a result thereto, the consultants refused to cooperate and continue working with FSSB and FSSB is unable to proceed with the necessary works. 3. Non-delivery of site possession of the Land. There is no delivery of site by DNP to FSSB as at the date of termination, contrary to the requirement under the JVA that the site possession should be delivered to FSSB within 7 days after execution of the JVA. The extensive delay in delivery of site has substantially affected the feasibility of the development of the Project. FSSB have since July 2019 communicated, both verbally and in written form, with DNP on the above breaches and the necessary rectification to be carried out but DNP have failed to rectify the same within the stipulated deadline and failed to provide adequate explanation on the several key breaches as stipulated above. FSSB have therefore proceeded with the termination of the JVA in view of the serious breaches on DNP’s part that justifies FSSB's termination. FSSB has required DNP to refund RM100,000.00 which FSSB have previously paid to DNP under the JVA, failing which FSSB reserves the right to take legal action against DNP for the RM100,000.00 and any losses suffered under the JVA. Nevertheless, the Company is of the opinion that the termination will not have any material financial and operational impact on the earnings or net assets of the Company for the financial period ending 31 December 2020. This announcement is dated 12 March 2020.