Reference is made to the announcements of the Company dated 17 July 2019 and 9 February 2021 in relation to the sale and purchase agreement entered into between LHB and JKSB in respect of the disposal of a piece of freehold land held under Geran 35311 Lot 559, Mukim Ijok, Daerah Kuala Selangor, Negeri Selangor for a total consideration of RM27,600,000.00 only (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.  

The Company wishes to provide the following additional information:-

1. The value of the Selected Units is derived from projected market value 3 years from now from the New Purchaser who is also the developer of the project. The Company is willing to accept a lower value of the bank guarantee (RM16.6 million), equivalent to 85% of the PP in Kind, offered from the New Purchaser towards the performance of their obligations on the basis that LHB is confident of their specific performance in completing the construction of the properties within the stipulated time frame.

2. The Development Order obtained includes 17 units of double storey shop.

3. Further breakdown of the intended application of the PP in Cash is as follows:-

This announcement is dated 18 February 2021.