The Board of Directors of TTB wishes to announce that Malim Enterprise (HK)
Limited (Company No. 377635) (Vendor or MEL), a company incorporated in
Hongkong and a wholly-owned subsidiary of the Company, has on 3 April 2014
entered into a Share Sale Agreement (SSA) with Cre8ive Hotels Management
Limited (Company No. 2026560) (CHML or
Purchaser), a company incorporated in Hongkong for the disposal of the entire
85% equity interest (Sale Shares) in Jilin Province Maxcourt Hotel Limited
(JPML), a company incorporated in the Peoples Republic of China, to CHML, for
a total cash consideration of RMB230 million (which is equivalent to
approximately RM121.56 million ) ["Proposed Disposal].
Please refer to the attachment for details of the announcement.
This announcement is dated 4
April 2014.