The Board of Directors of Federal International Holdings Berhad (“FIHB” or “the Company”) is pleased to announce that its wholly-owned subsidiary, Federal Furniture (1982) Sdn Bhd (“FF82” or “the Seller/Vendor”) has on 5 October 2021 entered into a Sale and Purchase Agreement (“SPA”) with Filtermation (Mfg) Sdn Bhd (“the Purchaser”) to dispose all that parcel of the leasehold industrial land held under PM 10096, Lot 677 Seksyen 2 (formerly known as H.S.(M) 5766, PT 4096), Pekan Bukit Changgang, Tempat Olak Lempit, Daerah Kuala Langat, Negeri Selangor measuring approximately 20,044 square meters together with a single storey wood based/furniture industrial factory with an annexed double storey office building and other ancillary buildings erected thereon bearing a postal address of Lot 104, Jalan Kompleks Perabut Olak Lempit, 47200 Banting, Selangor (“the Property”) for a total cash consideration of Ringgit Malaysia Twenty Four Million and Five Hundred Thousand only (RM24,500,000) (“Disposal Price”) subject to terms and conditions in the SPA (“Proposed Disposal”).

 Please refer to the attached document for further details.