Further to the Company’s announcement made on 27 August 2014, we wish to inform that the Company has on 25 June 2015 entered into a Supplemental Agreement (“Supplemental Agreement”) with Mutual Double Sdn Bhd (Company No. 1059838-X) (“MDSB” or “Purchaser”) to vary the Sale and Purchase Agreement dated 27 August 2014 made between the Company and MDSB (“SPA”) as follows:-

(a)      The Purchaser agrees to waive the condition precedent set out in Clause 3 of the SPA in relation to the procurement by the Vendor of the letter of approval of zoning plan (“Zoning Approval”) from the relevant authorities approving the zoning of the area comprising the Land as “Industrial” (“Rezoning”) within eighteen (18) months from the date of the SPA or such extension of time as both parties shall mutually agree. The Vendor agrees to continue to assist the Purchaser to procure the Zoning Approval from the relevant authorities approving the Rezoning at the Vendor’s own costs and expense within a period of two (2) years from the date of the Supplemental Agreement. In the event the Zoning Approval is rejected, not approved and/or there is no reply from the relevant authorities within the 2 years period, then the sale and purchase of the Land shall be deemed to be completed based on the existing layout plan in Appendix I of the SPA and subsequently, Clause 4A of the SPA shall no longer be of any effects.

(b)        The Balance Purchase Price shall be paid by the Purchaser within three (3) months from the date of the Supplemental Agreement (the last day of which is referred to as “the Completion Date”) with an automatic extension of one (1) month from the expiry of the Completion Date subject to the Purchaser paying Late Payment Interest on the Balance Purchase Price or such part thereof which is outstanding until the date of full settlement and the Late Payment Interest shall be paid simultaneously with the payment of the Balance Purchase Price.

(c)        The Purchaser and the Vendor agree and authorise the Vendor’s solicitors to release to the Company the Deposit paid by the Purchaser (currently held by the Vendor’s Solicitors as stakeholder in an interest bearing account) together with interest earned thereon simultaneously upon execution of the Supplemental Agreement subject to the Vendor having deposit the Original Title free from encumbrances together with all the Quit Rent and Assessment Receipt (if applicable) duly paid to date with the Vendor’s Solicitors.

The variance is not expected to have any material financial effects to TTB Group.

Barring any unforeseen circumstances, the Proposed Disposal is expected to be completed within 4 months from the date of the signing of the Supplemental Agreement.

The Supplemental Agreement is available for inspection at the registered office of the Company at Suite 2.12, Level 2, Menara Maxisegar, Jalan Pandan Indah 4/2, Pandan Indah, 55100 Kuala Lumpur between 9.00 a.m. and 5.00 p.m. from Monday to Friday (except public holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 26 June 2015.