The Board of Directors (“Board”) of Mah Sing wishes to announce that on 19 February 2021, Oasis Garden Development Sdn Bhd (“Oasis Garden”), a wholly-owned subsidiary of Mah Sing, had accepted the counter offer approval letter dated 20 January 2021 issued by the Sepang District/Land Office (Pentadbir Tanah Sepang) (“Approval Letter”) for the alienation of a parcel of prime land in Bandar Baru Salak Tinggi, Daerah Sepang, Negeri Selangor measuring approximately 100 acres for a total consideration of RM95,832,000 (“Consideration”) (“Proposed Acquisition”). The Approval Letter was issued pursuant to an offer from Oasis Garden dated 3 August 2020. The Land comes with the benefit of converted residential title, enabling rapid speed to market to meet market demand in the location.

Please refer to the attachment for further details of the Proposed Acquisition.

This announcement is dated 19 February 2021.