We refer to our announcement dated 8 January 2008 in relation to the extension of time to comply with the conditions imposed in the SC's letter dated 23 July 2007 wherein inter-alia, HSP is required, within six (6) months from the date of the SC's Approval Letter, to resolve the issue on the requirement to transfer 30% of Listing Estate / equity in Hap Seng Plantations (Wecan) Sdn Bhd to natives and to obtain approval for the change of land use in Apas Claremont Estate and Muul Hill Estate to the use suitable for oil palm plantation ("SC Conditions"). All abbreviations used herein shall have the same meanings as those used in the abovementioned announcement unless stated otherwise.

 

On behalf of HSP, CIMB Investment Bank Berhad ("CIMB") wishes to announce that the SC has, via its letter dated 14 January 2008 (which was received on 18 January 2008), approved the application by HSP for an extension of time up to 23 January 2009 to comply with the SC Conditions subject to CIMB / HSP releasing announcement on the status of compliance of the SC Conditions to Bursa Malaysia Securities Berhad quarterly and to inform the SC of the same upon announcement.

 

This announcement is dated 18 January 2008.