Reference is made to our previous announcement dated 27 February 2013 pertaining to the entry by the Company of a Share Sale and Purchase Agreement with Mitsui & Co., Ltd (“Mitsui”) (“SPA”) to dispose of 4,000,000 ordinary shares of RM1.00 each representing 20% of the issued and paid-up share capital held by MBMR in DMSB to Mitsui (“the Acquisition by Mitsui” or “the Disposal by MBMR”), and our subsequent reply on 4 March 2013 to Bursa Malaysia Securities Berhad’s query letter dated 1 March 2013.

      The Board of Directors of MBMR wishes to inform as follows :

      (1)         The intended application of the sale proceeds and the breakdown, including time frame for full utilisation of the proceeds

                The Board of Directors of MBMR intends that approximately 70% of the proceeds from the Disposal by MBMR will be used to meet the repayment of borrowings and the remaining to meet the working capital requirements of the Company over the next 18 months.

      (2)         The conditions precedent and other salient terms of the SPA

                Completion of the Acquisition by Mitsui and Disposal by MBMR was subject to the following conditions precedent (all of which were fulfilled on the date of the SPA):

(a)    each of Mitsui and MBMR providing evidence to the other that it is authorised to execute, perform and consummate the transactions contemplated under the SPA;

(b)   Daihatsu Motor Co., Ltd (“DMC”), as a shareholder of DMSB giving a written waiver of its pre-emptive rights in respect of the Disposal by MBMR, in accordance with the articles of association of DMSB; and

(c)    each of Mitsui, MBMR, Med-Bumikar Mara and DMC entering into the Supplementary Agreement.

This announcement is dated 6 March 2013.