The Board of Directors of Melewar Industrial Group Berhad ("MIGB") (“Board”) wishes to announce that Melewar Steel Services Sdn Bhd (Registration No. 197501000185 (21834-P)) (“the Vendor” or “MSS”), a wholly-owned subsidiary of MIGB has on 03 September 2020 entered into a Sale & Purchase Agreement (“SPA”) with RHB Trustees Berhad acting as the trustee for Axis Real Estate Investment Trust (“AXIS-REIT”) (“the Purchaser”) for the disposal of property together with all the buildings erected thereon bearing postal address Lot 16, Jalan Pengapit 15/19, Seksyen 15, 40200 Shah Alam, Selangor Darul Ehsan (collectively known as “Property”), which full details are given in sub-paragraph 2.2 of the announcement, by the Company to RHB Trustees Berhad as trustee (“RHB” or “Trustee”) for Axis-REIT for a total disposal consideration of RM11.87 million (“Disposal Consideration”) (“the Proposed Disposal”).

The details of the announcement are as per the attachment.

This announcement is dated 03 September 2020.