We refer to the Company's announcements dated 26 December 2019, 22 May 2020, 2 February 2021 and 17 February 2021 in relation to the announcements made to the Singapore Exchange Securities Trading Limited ("SGX-ST") by Parkson Retail Asia Limited ("PRA"), a 67.96% owned subsidiary of the Company listed on the SGX-ST, on the legal proceedings involving Parkson Corporation Sdn Bhd ("PCSB"), a wholly-owned subsidiary of PRA, and PKNS-Andaman Development Sdn Bhd ("PKNS") in respect of the premises leased by PKNS to PCSB within a mall known as "EVO Shopping Mall", and the updates on the legal proceedings in relation thereto (collectively, the "Announcements").

Unless otherwise stated, the terms used throughout this announcement shall have the same meaning as defined in the Announcements.

On 22 March 2023, PRA had announced that the Court of Appeal had on 21 March 2023, allowed PKNS's appeal against the decision given by the High Court of Malaya on 29 January 2021 allowing PCSB's application to strike out the Suit, with costs of RM10,000 and ordered for the matter to continue for trial at the High Court of Malaya ("PRA Announcement"). A copy of the PRA Announcement is attached herewith.

PRA will make further announcements as and when there are any material developments.