We refer to the announcement dated 19 April 2019 in relation to the Proposed Joint Venture (“Announcement”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Announcement.

The Company wishes to announce that the subscription of shares in Cloudcubes Sdn Bhd (“CSB”), the joint venture company for the Proposed Joint Venture has been completed following the allotment and issuance of 9,999 ordinary shares in CSB to Sunsuria City Amenities Sdn Bhd (“SCASB”) and Tan Hong Thai (“THT”) at an issue price of RM1.00 per ordinary share on 17 May 2019. Subsequent to the said subscription of shares, the total shareholdings held by SCASB and THT in CSB are as follows:

Further to the abovementioned subscription of shares, CSB is now a 80%-owned indirect subsidiary of the Company.

This announcement is dated 17 May 2019.