On 23 July 2020, DLMI obtained shareholders’ approval for the purchase of land in Bandar Enstek, Negeri Sembilan (“Land Acquisition”), to construct manufacturing facilities thereon in line with DLMI’s long-term plans of improving its manufacturing capabilities to keep up with the increasing demand for its products and with the new customer trends. As informed in DLMI’s Circular to Shareholders dated 23 June 2020 on the Land Acquisition, it is too preliminary to ascertain when the construction works for the new manufacturing facilities will commence since multiple scenarios are being evaluated. 

As part of the aforesaid scenario evaluation, and in view of the current economic climate brought about by the COVID-19 pandemic, the Board of Directors of DLMI has approved for DLMI to assess the prospects of a potential sale of its current factory land (“Assessment”) located and held under Lot 78, Lot 79 and Lot 48 in Jalan Prof. Khoo Kay Kim, Bandar Petaling Jaya, District of Petaling, Selangor Darul Ehsan (collectively, “Lands”). As part of the Assessment, an independent real estate agent has been appointed to act on behalf of DLMI to seek offers for the Lands from the open market by way of a public tender after the date of this announcement. Final decisions on the Lands will only be made by the Board after the Assessment of the various scenarios is completed and announcements relating thereto will be made, if necessary, at the appropriate time in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

This announcement is dated 9 September 2020.