INTRODUCTION

The Board of Directors of MBMR wishes to announce that Autobelt Sdn. Bhd.("ASB"), a wholly-owned subsidiary company of Autoliv Hirotako Sdn. Bhd. ("AHSB"), which in turn is a 51% jointly controlled entity of Hirotako Holdings Berhad (“HHB”), has resolved by way of special resolution at the extraordinary general meeting ("EGM") held on 17 January 2017 approved the voluntary winding-up pursuant to Section 254 of the Companies Act, 1965. HHB is a wholly owned subsidiary of MBMR.

1. INFORMATION ON AUTOBELT SDN. BHD.

ASB was incorporated on 15 October 1983 with paid-up share capital of RM9,000,000. It has ceased operations on 1 January 2001 and has since remained dormant. ASB is not a major subsidiary of MBMR Group (“the Group”).

2. RATIONALE FOR VOLUNTARY WINDING-UP

ASB has been dormant since 2001 and AHSB has no future plan to activate the business or operation of ASB.

3. DETAILS OF VOLUNTARY WINDING-UP

ASB has resolved by way of special resolution at its EGM held on 17 January 2017 to approve the voluntary winding-up pursuant to Section 254 of the Companies Act, 1965 and also resolved to appoint Ms. Lee Wai Ngan and Ms. Chan Toye Ying of Systems Associates Sdn. Bhd. as liquidators of the Company for the purposes of the voluntary winding-up.

4. EFFECT OF THE VOLUNTARY WINDING-UP

The voluntary winding-up proceeding of ASB will not have any operational impact on or result in any loss to the Group. The voluntary winding-up of the Company also will not have any material effect on the earnings, net assets and gearing of MBMR for the current financial year ending 31 December 2017.

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

5. STATEMENT BY DIRECTORS

The Directors of MBMR, having considered all aspects of the voluntary winding-up, are of the opinion that the voluntary winding-up is in the best interest of AHSB, HHB, MBMR and its shareholders.

None of the Directors or major shareholders of MBMR or persons connected to them have any interest, direct or indirect, in the voluntary winding-up.

This announcement is dated 7 February 2017.                             .