The Board of Directors of Encorp (“Board”) wishes to announce that Encorp Bukit Katil Sdn Bhd (“EBKSB”), a wholly-owned subsidiary of Encorp Must Sdn Bhd (“EMSB”), which in turn is a wholly-owned subsidiary of Encorp had on 30 December 2020 entered into a settlement agreement (“Settlement Agreement”) in supplemental to the Master Development Agreement (“MDA”) dated 20 January 2016 with FELDA to release and discharge the obligations of EBKSB pursuant to the MDA.
Details of the Settlement Agreement are set out in the attachment below.
This announcement is dated 30 December 2020.