Reference is made to the above matter. 

The Board of Directors of YNH Property Bhd (“YNH” or “the Company”) is pleased to announce that the Company had on 4 February 2015 entered into a Memorandum of Understanding (“MOU”) in relation to a proposed hotel to be branded as “Hilton Kuala Lumpur City Centre & Residences”, to be managed by Hilton Worldwide Manage Limited, for its Menara YNH development in Kuala Lumpur City Centre. 

Any new developments arising from the above MOU will be announced from time to time.

This announcement is dated 5 February 2015.