The Board of Directors of Eksons Corporation Berhad (“Eksons” or “Company”) wishes to announce that Viva Paradise Sdn Bhd (“Viva”), a wholly-owned subsidiary of Vibrant Hub Sdn Bhd (“VHSB”) which is a 60.52%-owned subsidiary of the Company, had entered into a Project Management Agreement dated 1 May 2015 as varied by a Supplemental Agreement dated 3 January 2018 (collectively “PMA”) with Tempo Properties Sdn Bhd (“Tempo Properties”) for the project management of development of a piece of 6.5 acres land in Taman Bukit Serdang, Selangor and/or sale of the premises to be developed. The PMA which is a Recurrent Related Party Transaction (“RRPT”) was approved by shareholders in previous General Meetings, and the last mandate was on 25 September 2019. The project, named Affiniti Residences, comprises 23 units of 4-storey Grand Villas, 70 units of Duplex Villas and 36 units of Rumah SelangorKu apartments (“Project”). The Project is now approximately 17% complete.

Please refer to the attachment for details.

This announcement is dated 30 July 2020 and approved by the Directors on 30 July 2020.