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Further to the Company’s announcement made on 23 July 2019, the board of directors of the Company announced that its indirect wholly owned subsidiary, IL Power Sdn Bhd (Registration No. 201501022872(1148201-K)) had on 16 January 2020 received an outcome letter dated 6 January 2020 from the Energy Commission of Malaysia informing that its bid for the LSS3 Project was not successful. Hence, the MOU entered into between IL Energy and SHOL will no longer be valid and will terminate with immediate effect.