The Board of Directors of MCT Berhad ("MCT" or "the Company") wishes to announce that the Company is proposing to change its name from " MCT Berhad" to "AVALAND Berhad" ("Proposed Change of Name"). The proposed name of "AvaLand Berhad" was approved and reserved by the Companies Commission of Malaysia ("CCM") on 17 April 2023. 

The Proposed Change of Name is subject to the approval of the shareholders of the Company at the forthcoming Extraordinary General Meeting to be convened at a date to be announced later and a Circular to shareholders with details of the Proposed Change of Name will be issued to the shareholders in due course. The Proposed Change of Name, if approved by the shareholders, will take effect from the date of issuance of the Notice of Registration of New Name by the CCM to the Company.

This announcement is dated 24 May 2023.