We refer to the announcement made on 16 July 2019. KKB Engineering Berhad ("the Company") wishes to announce that Global Upline Sdn. Bhd. ("GUSB") has fully settled the agreed settlement sum of RM4 million and fulfilled the terms and conditions of the amicable settlement reached between KKB Builders Sdn Bhd, a wholly-owned subsidiary of KKB Engineering Berhad, and GUSB.

With that, the material litigation between both parties has been fully concluded.

Financial Impact

The settlement sum is expected to have a positive impact to the Group’s financial results for the financial year ending 31 December 2019.

This announcement  is dated 4 September 2019.