(Unless otherwise stated, all abbreviations stated herein shall have the same meaning as those mentioned in our announcement dated 8 June 2017 in relation to the Proposed Joint Venture)

We refer to the announcements on 31 October 2016, 25 January 2017, 21 April 2017, 8 June 2017, 5 December 2017, 5 March 2018 and 31 May 2018.

On behalf of the Board of Directors of Encorp, MIDF Amanah Investment Bank Berhad wishes to announce that the conditions precedent of the JVSA dated 8 June 2017 entered into between EBKSB, SDSB and SDJSB for the Proposed Joint Venture have not been fulfilled as of 6 December 2018. Pursuant thereto, the conditions precedent period for the JVSA has lapsed and has not been extended by EBKSB and SDSB. As such, the JVSA has been rescinded and the Parties shall revert to its original position prior to the JVSA (“Expiry of the JVSA”).

The Expiry of the JVSA is not expected to have any financial effect on the earnings per share and net assets per share of Encorp.