The Company’s announcement dated 7 March 2016 in relation to the acquisition of a piece of freehold land held under Geran Mukim 1694 Lot 1822, situated in the Mukim Tebrau, District of Johor Bahru, State of Johor by its wholly-owned subsidiary, Xin Hwa Trading & Transport Sdn. Bhd., refers.

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the previous announcement)
The Board of Directors of the Company wishes to announce the following additional information with regard to the Acquisition:

(1) The valuation was carried out on 29 January 2016 and the method of valuation adopted by the independent registered valuer, Cheston International (Johor) Sdn. Bhd. (“Cheston”) was comparison method of valuation, which is deemed as the best approach for the purpose of the valuation as the Land is vacant land without any approved plans and layout.

(2) Apart from the SPA and Existing SPA as announced earlier, the valuation certificate dated 4 February 2016 issued by Cheston is also available for inspection at the Registered Office of the Company during normal office hours from Monday to Friday (except public holidays) at 802, 8th Floor, Block C, Kelana Square, 17 Jalan SS7/26, 47301 Petaling Jaya, Selangor Darul Ehsan for a period of three (3) months from the date of this announcement.                                                                                  

The full valuation report will be made available for inspection at the Company’s Registered Office on 18 March 2016.

This announcement is dated 9 March 2016.