INTRODUCTION

The Board of Directors of MBMR wishes to announce that Hirotako Ventures Sdn. Bhd. ("HVSB"), a wholly-owned subsidiary company of Hirotako Holdings Berhad ("HHB"), which in turn is a subsidiary of MBMR, had on 10 December 2012 submitted its application for striking-off the name of the company from the Register under Section 308 of the Companies Act, 1965 to Companies Commission of Malaysia ("CCM").

1. 1.        INFORMATION ON HIROTAKO VENTURES SDN. BHD.

HVSB was incorporated in Malaysia under the Companies Act, 1965 on 13 February 1995 as a private limited company and has not been in operation since its incorporation. The intended principal activity of HVSB is that of investment holding. HVSB has an authorised share capital of RM100,000.00 comprising of 100,000 ordinary shares of RM1.00 each, of which 2 ordinary shares of RM1.00 each have been issued and fully paid-up.

1. 2.        RATIONALE FOR STRIKING-OFF

HVSB has not been in operation since its incorporation and has no intention to carry on its business or operation in the future.

1. 3.        DETAILS OF THE STRIKING-OFF

HHB has vide its Directors' Circular Resolution dated 16 November 2012 agreed to strike-off  HVSB, its wholly-owned subsidiary company under Section 308 of the Companies Act, 1965.

1. 4.        EFFECT OF THE STRIKING-OFF

The striking-off of HVSB is not expected to have any material effect on the earnings, net assets and gearing of MBMR for the current financial year ending 31 December 2012.

There is no effect on the issued and paid-up share capital and the substantial shareholders’ shareholding in MBMR.

1. 5.        APPROVAL REQUIRED

The striking-off of HVSB is subject to the approval of CCM, which is expected to be obtained within three (3) to six (6) months from the date of application of the strike-off.

1. 6.        STATEMENT BY DIRECTORS

The Directors of MBMR, having considered all aspects of the striking-off, are of the opinion that the striking-off of HVSB is in the best interest of MBMR and its shareholders.

 This announcement is dated 11 December2012.