Reference is made to the Company’s announcements dated 24 May 2011, 27 May 2011, 29 June 2011, 5 September 2011, 7 September 2011 and 29 September 2011 in relation to the Proposed Consortium Agreement (“Announcements”). Unless otherwise defined, all abbreviations used are the same as those previously defined in the Announcements.

The exchange rate for the purpose of this announcement is assumed to be USD1.00: RM3.20.


1. INTRODUCTION

• On behalf of the Board of Directors of YHB (“Board”), AmInvestment Bank Berhad (a member of the AmInvestment Bank Group) is pleased to announce that the JVC had on 21 December 2011 entered into a bareboat charter contract with PTSC pursuant to the Proposed Consortium Agreement.
  
  

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  (i) The tenure of the contract is for a firm period of ten (10) years (“Firm Period”) having the option to extend for further periods of five (5) years, two (2) years, two (2) years and one (1) year (“Extension Periods”); and
  
  (ii) The total contract value is USD331.15 million (approximately RM1.06 billion) for 20 years (ie. USD205.51 million (approximately RM657.63 million) for the Firm Period and USD125.64 million (approximately RM402.05 million) for the Extension Periods).