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| Reference to the announcement made on 13 April 2007, 24 July 2007 and 19 October 2007 in relation to the MOU entered between QL and Sojitz Corporation of Japan to signify thier mutual intent to enter into a joint venture arrangement involving bio-diesel upon the terms to be agreed by the parties. Further thereto, the Board of Directors of QL wishes to announce that the parties have on 13 December 2007, mutually agreed not to further extend the MOU as it is longer viable to proceed with the bio-diesel project due to the high CPO price. However, parties will maintain the relationship for other area of business collaboration. |
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