Pursuant to Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that FM Global Logistics Ventures Sdn. Bhd., an indirect wholly-owned subsidiary of the Company has on 25 September 2023 entered into a Sale and Purchase Agreement ("SPA") with (i) Anthony Ng Koon Leng and (ii) Cheong Yew Fei, Randy for the acquisition of 510,000 ordinary shares in the share capital of CAC Logistics Services Pte Ltd ("CAC"), representing the entire equity interest in CAC, for a total cash consideration of SGD5,500,000 only (equivalent to approximately RM18,858,950.00), subject to the terms and conditions stated in the SPA (the "Acquisition").

Details of the Acquisition are set out in the attachment below.

This announcement is dated 25 September 2023.