With reference to the above Article, SCAN wishes to announce that there is inaccurate statement in the Article which states that “The capital markets regulator also hauled up senior company officials…”.

SCAN wishes to announce that the above mentioned statement in the Article was incorrect as the Securities Commission (“SC”) DID NOT haul up any official of the Company to explain the circumstances surrounding the dismissal of the Company’s Chief Executive Officer. In fact, the top Management of SCAN has pro-actively requested to meet with the SC to explain the latest development and the steps being taken by the Management in relation to the dismissal of the Company’s Chief Executive Officer following an independent panel of domestic inquiry finding. 

This announcement is dated 15 January 2009.

c.c New Straits Times