The Board of Directors of ACO ("Board") is pleased to announce that its wholly-owned subsidiary company, Actgen Industry Sdn. Bhd. (“ACTGEN”) had on 23 July 2020, entered into a Sale and Purchase Agreement (“SPA”) with Plascable Polymer Sdn. Bhd. (“the Vendor”) for the purchase of the remaining unexpired lease term for a period of approximately 40 years, expiring on 31 January 2060 (“Lease”) of a parcel of freehold industrial land  held under H. S. (D) 493851, PTD 76050, Mukim Tebrau, Daerah Johor Bahru, Negeri Johor (“Lease Land”) together with a single-storey detached factory with three-storey office building, one and half-storey detached factory, a single-storey detached warehouse, a Tenaga Nasional Berhad (“TNB”) sub-station, a guardhouse and a water tank erected thereon (collectively referred to as “Property”) for a cash consideration of RM10,650,000 (“Purchase Consideration”).

Please refer to the attachment for further details on the SPA.

This announcement is dated 23 July 2020.