Sarawak Plantation Berhad (SPB) wishes to announce that Lionsun Timber Sdn. Bhd. (LTSB) (Company No. 280426-X), a wholly owned subsidiary of SPB, had on 30 January 2015 held an Extraordinary General Meeting at which it was resolved that LTSB be wound up voluntarily pursuant to Section 254(1)(b) of the Companies Act 1965.

LTSB was incorporated in Malaysia on 2 November 1993. It has an authorised capital of RM100,000-00 divided into 100,000 ordinary shares of RM1-00 each. The total issued capital of LTSB stands at 100 shares of RM1-00 each and the paid up capital of RM100-00. The principal nature of business carried on by LTSB was that of a timber contractor. LTSB is dormant.

Mr Teo Kin Mia of Messrs. Moore Stephens TNT has been appointed as the Liquidator for the purpose of the voluntary winding up of LTSB.

The voluntary winding up of LTSB is not expected to have any material effect on the share capital, net assets per share, gearing and earnings per share of SPB for the financial year ending 31 December 2015.

None of the Directors and / or major shareholders of the SPB and / or persons connected with them have any interest, direct or indirect, in the voluntary winding up.

The Directors of SPB, having taken into consideration all aspects of the voluntary winding up proceedings, is of the opinion that the voluntary winding up proceedings is in the best interest of SPB.

This announcement is dated 30 January 2015.