Reference is made to the previous announcements made on 21 November 2019 and 13 February 2020 respectively pertaining to the Memorandum  of Agreement  between Teo Seng Capital Berhad ("Teo Seng" or "the Company") and Solarvest Holdings Berhad ("Solarvest") for the investment in Solar Photovoltaic ("Solar PV") System.

The Board of Directors of Teo Seng wishes to announce that the Teo Seng Farming Sdn Bhd ("TSF"), a wholly-owned subsidiary company of Teo Seng has on 25 March 2020 entered into 6 separate Solar Photovoltaic Engineering, Procurement, Constructions and Commissioning Agreements ("Phase 1 Agreements") with Solarvest Energy Sdn Bhd ("SESB"), a  wholly-owned subsidiary company of Solarvest to install 1,167.36 kWp (kilowattpeak) of 6 Rooftop Solar Projects in TSF, with embarked capital expenditure ("Contract Price") of RM3,668,054.12.

Please refer to the attachment for detailed announcement.

This announcement is dated on 25 March 2020.