We refer to the Company's announcements dated 12 February 2008, 16 May 2008, 12 August 2008, 11 November 2008, 11 February 2009, 12 May 2009, 14 August 2009, 12 November 2009, 12 February 2010, 12 May 2010, 12 August 2010, 12 November 2010, 11 February 2011, 12 May 2011, 12 August 2011, 11 November 2012, 10 February 2012 and 11 May 2012 respectively on the Memorandum Of Understanding between Samalaju Industries Sdn Bhd, a subsidiary company of Cahya Mata Sarawak Berhad (“CMSB”), GIIG Holdings Sdn Bhd and Pan Kingdom Invest Co for the development of a steel cluster and iron ore hub project in the Samalaju Industrial Park (“the Project”).

CMSB wishes to announce that the parties have mutually agreed to put the Project on hold and pursue it if the gas is available and will make an appropriate announcement at that stage.

This announcement is dated 10 August 2012.