This announcement serves as the purpose of ensuring open and transparent disclosure of the Sales and Purchase Agreement and the Deed of Revocation subsequent thereto.

Kar Sin Bhd ("KSB"), the wholly-owned subsidiary of the Company, had on 6 September 2023, entered into a Sale and Purchase Agreement ("SPA") with Frazel Group Sdn Bhd ("Frazel") for the proposed disposal of all that parcel of freehold land held under Geran Mukim 54, Lot 448, Kepong Rly Line 8th Mile, Mukim Batu, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan Kuala Lumpur measuring approximately 26,253.121 square meters subject to the terms and conditions of the SPA for a total disposal consideration of RM59,577,250.00 only.

Subsequent thereto, KSB had on 24 April 2024 entered into a Deed of Revocation with Frazel to rescind and revoke the SPA subject to the terms and conditions contained therein. Further details on the Deed of Revocation are set out in item 16 of this announcement.

Please refer to the attachment below for further details of the SPA and Deed of Revocation.

This announcement is dated 29 April 2024.