We refer to the announcement dated 12 December 2018 in relation to the Proposed Acquisition (“Announcement”). Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Announcement.

The Board of Directors of Chin Hin wishes to provide the following additional information:

(1)         The Purchase Consideration of RM5.0 million was arrived on a willing buyer-willing seller basis after giving due consideration on SVSB’s estimated profit after tax of RM5.0 million                per annum due to rental receivable from its completed 6-blocks of 4 levels hostel for employees located in Mukim Pengerang, Daerah Kota Tinggi, Johor (“Properties”) of 2,495 headcount capacity.

(2)          The Purchase Consideration of RM5.0 million will be paid from MMSB in accordance with the share proportion of the shareholding of the existing shareholders.

(3)          The highest percentage ratio applicable to the Proposed Acquisition pursuant to Paragraph 10.02(g) of the Main Market Listing Requirements of Bursa Malaysia Securities                           Berhad should be 0.87% based on the audited consolidated financial statements of Chin Hin for the financial year ended 31 December 2017.

This announcement is dated 17 December 2018.