Unless otherwise defined herein, all terms and acronyms used herein shall be the same as those defined in the Company’s announcement dated 27 August 2015.

Further to our announcement on 27 August 2015, the Board of Directors of the Company wishes to clarify as follows:-

1. Upon the execution of the Sales and Purchase Agreement (“SPA”), the Purchaser shall pay the Balance Deposit (elaborated below).

    Balance Deposit refers to and includes the following:-

• Earnest Deposit of RM200,000.00 paid on 29 June 2015 following the successful tender for the Property;
• A cheque dated 27 August 2015 amounting to RM1,500,000.00 withheld by the Vendor’s Solicitor as payment to Director General of Inland Revenue as the sum due on Real Property Gains Tax (“RPGT”);
• A cheque dated 27 August 2015 amounting to RM3,300,000.00 being the balance deposit sum less earnest deposit and the RPGT Sum.

    The Balance Deposit totalling RM5,000,000.00 is equivalent to 10% of the total purchase price for the Property.

2. The remaining RM45,000,000.00 being the Balance Purchase Price or 90% of the total purchase price would be paid on or before 25 September 2015 being the date stipulated as the “Completion Date”.

3. The Proposed Acquisition is not subject to any relevant authorities in Malaysia. 

This announcement is dated 28 August 2015.