1. Particulars of the Suit

The Board of Directors of IHH Healthcare Berhad (?IHH? or ?the Company?) wishes to announce that Emqore Envesecure Private Capital Trust (?Emqore?) filed the Suit against, among others, IHH on 16 June 2020. IHH was served on 26 July 2021 with Emqore?s original complaint and Emqore?s Motion to Amend its original complaint (?Motion to Amend?). The Motion to Amend was pending adjudication before the US District Court until 3 December 2021 when Emqore?s amended complaint was filed at the US District Court (?Amended Complaint?).

Pursuant to the Amended Complaint, Emqore is seeking for, among others, damages in excess of USD 6.5 billion comprising compensatory damages plus treble damages and attorneys? fees pursuant to the U.S. Racketeer, Influenced and Corrupt Organizations Act, against 28 named defendants and 20 non-party defendants.

Emqore?s claim against IHH essentially arises from and / or relates to allegations relating to the issuance of the shares of Fortis Healthcare Ltd. (?Fortis?) to IHH?s subsidiary in or around 2018. Emqore broadly alleges that it has purportedly suffered losses as the defendants had allegedly conspired to frustrate a proposed share acquisition transaction between Fortis and Emqore?s supposed predecessors.

2. The impact of the Suit on IHH

At this juncture, it is not possible to determine the estimated potential liability to IHH arising from the Suit, as the Suit involves 28 named defendants and 20 non-party defendants. However, as at the date of this announcement, the Suit is not expected to have any business, operational or financial impact on IHH, as IHH believes that it has strong grounds for dismissal of the Suit.

3. Steps taken and/or proposed to be taken in respect of the Suit

IHH is of the view that it has strong grounds for seeking dismissal of Emqore?s claims and intends to file a Motion to Dismiss Emqore?s Amended Complaint on 3 principal grounds, namely, lack of personal jurisdiction, forum non conveniens, and failure to state a claim for relief. IHH intends to defend vigorously against the claims.

The Company will make further announcement as and when there are material developments on the above matter.

The Announcement is dated 5 January 2022.