On behalf of the Board of Directors of MAICA (“Board”), RHB Investment Bank Berhad (“RHB Investment Bank”), AmInvestment Bank Berhad (“AmInvestment Bank”) and Astramina Advisory Sdn Bhd (“Astramina”) (RHB Investment Bank, AmInvestment Bank and Astramina are collectively referred to as the “Joint Advisers”) wish to announce that the Company proposes to undertake the following:

(a)    Proposed renounceable rights issue of up to 475,084,416 new ordinary shares of RM0.50 each in MAICA (“MAICA Shares”) (“Rights Share”) on the basis of three (3) Rights Shares for every one (1) existing MAICA Share held on an entitlement date to be determined and announced later (“Entitlement Date”), together with up to 158,361,472 free detachable Warrants (“Warrants”) on the basis of one (1) free Warrant for every three (3) Rights Shares subscribed (“Proposed Rights Issue With Warrants”);

(b)    Proposed private placement of up to 63,344,588 MAICA Shares (“Placement Shares”) representing approximately 10% of the enlarged issued and paid up share capital of MAICA after the Proposed Rights Issue With Warrants at an issue price to be determined later (“Proposed Private Placement”); and

(c)    Proposed increase in authorised share capital of MAICA from RM100,000,000 comprising 200,000,000 MAICA Shares to RM750,000,000 comprising 1,500,000,000 MAICA Shares (“Proposed Increase In Authorised Share Capital”), and in consequence thereof, the Company’s Memorandum of Association be amended accordingly (“Proposed Amendments”).

Further details of the Proposals are set out in the attachment.

This announcement is dated 28 March 2014.

(Collectively to be referred to as the “Proposals”).