The IGB Board announces that on 9 January 2026, after trading hours, 12 Bedford Avenue Ltd (“Bedford”) and St Giles Hotel Limited (“SGHL”)—each 49.47% owned by IGB through subsidiaries Pacific Land Sdn Bhd, TTD Sdn Bhd, and Beswell Limited—have entered into the following agreements with a combined sale consideration of £220.0 million (“Sale Price”):

(i)   Bedford's sale of all issued shares in its wholly owned subsidiary, Ravencroft Investments Incorporated (“RII”), to Hiro Intermediate Holdings Limited; and

(ii)  SGHL’s sale of the St Giles Hotel London’s business and assets to Bedford Avenue Hotel Opco Limited.

Collectively, “Sale Transactions”.

The parties agreed on the Sale Price after fair negotiations. The latest valuation of St Giles Hotel London was conducted on 24 July 2024 and appraised at £228.5 million.

The Group’s share of the associates’ net gain from the Sale Transactions is approximately RM452.6 million, which positively impacts the Group’s earnings, earnings per share, and net assets for the year ending 31 December 2026.

The Sale Transactions were completed on 9 January 2026 with agreements executed and exchanged, and the Sale Price received.

Except for Dato’ Seri Robert Tan Chung Meng, a director of Bedford, RII, and SGHL, and Wah Seong Manufacturing Sdn Bhd—which owns 45.91% in both Bedford and SGHL, a subsidiary of Wah Seong (Malaya) Trading Co. Sdn Bhd, a major shareholder of IGB—no other IGB Directors, major shareholders, or their persons connected have any direct or indirect interest in the Sale Transactions.

This announcement is dated 12 January 2026.