Unless otherwise stated, all abbreviations used in this announcement shall have the same meanings as defined in the Company’s announcement dated 7 May 2021 in relation to the Proposal (“Previous Announcement”).

We refer to the Previous Announcement and wish to announce that item 2.7.2 (a) and item 8 of such announcement should be read as follows with amendments in bold and underlined text.

2.7       Salient terms of the Agreements

2.7.2. In respect of the Agreements: -

1. Deposit of 10% of the consideration for the Agreements of RM7.0 million or RM700,000 was paid upon execution of the Agreements. RM4.3 million of the consideration for the Agreements will be paid within three (3) months from the Unconditional Date (as hereinafter defined) of the Agreements with an automatic extension of one (1) month if required subject to payment of interest at the rate of 8% per annum, or such other date as the parties may mutually agree in writing together with the completion of ASA as the Agreements and ASA are inter-conditional (“Completion Date”). The remaining balance of RM2.0 million of the consideration for the Agreements (“Remaining Balance”) shall be paid by the Purchasers by way of ten (10) quarterly instalments with the first quarterly instalment to be paid on 1 January 2022 and the final quarterly instalment on 1 April 2024;

8.        ESTIMATED TIMEFRAME FOR COMPLETION OF THE PROPOSAL

Barring any unforeseen circumstances, the Proposal is expected to be completed before the end of this year.

Save for the above, all other information in the Previous Announcement remains unchanged.

This announcement is dated 10 May 2021.