Pursuant to Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), the Board of Directors (“Board”) of Boilermech wishes to announce that PT Boilermech Manufacturing Indonesia (“PTBMI”), which is wholly-owned by Boilermech and its subsidiary PT Boilermech, has on 23 April 2019 entered into a Binding Agreement for Sale and Purchase of Land (“SPA”) with PT Maspion Industrial Estate (“PT Maspion”) for the acquisition of 3 adjoining portions of vacant industrial land measuring in total 30,000 square meters located at Jalan Raya Manyar Km. 25, Sukomulyo, Manyar, Gresik, East Java, Indonesia (“the Acquired Land”) at the purchase price of IDR1,800,000 per square meter, amounting to a total cash purchase consideration of IDR54 billion (approximately RM15,660,000) excluding 10% Value Added Tax (“VAT”) and other applicable fees in connection with the transfer of title of the Acquired Land (“Proposed Acquisition”).

Please refer to the attachment for the details.

This announcement is dated 23 April 2019.