This announcement serves as the purpose of rectification of oversight pertaining to the Proposed Acquisition (hereinafter defined) and is made in accordance with Chapter 10 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

On 18 April 2022, the wholly-owned subsidiary of the Company, namely Kar Sin Bhd entered into a Sale and Purchase Agreement ("SPA") with Great Wall Park Sdn Bhd for the proposed acquisition of all that freehold vacant land held under the individual title H.S.(D) 47941 P.T. 48632 in the Mukim of Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan Kuala Lumpur measuring approximately 20,630.474 square meters (approximately 5.098 acres) with vacant possession free from all encumbrances and subject to the terms and conditions of the SPA for a total purchase consideration of RM150.00 million only ("Proposed Acquisition").

Please refer to the attachment below for further details of the Proposed Acquisition.

This announcement is dated 17 January 2024.