The Company wishes to announce that the Special Commissioners of Income Tax ("SCIT") have on 22 August 2011 dismissed the appeal by Kar Sin Berhad against the additional assessments raised by the Inland Revenue Board for the Years of Assessment 1998 and 1999.  Additional tax and penalties amounting to RM1,058,960.00 and RM3,336,206.72, were imposed under the said additional assessments for the Years of Assessment 1998 and 1999 respectively.

Pursuant to this matter, the Company wishes to also announce that Kar Sin Berhad, a wholly-owned subsidiary of YNH Property Bhd, intends to appeal against the decision of the SCIT at the High Court.

This announcement is dated 22 August 2011.