The Board of Directors of Land & General Berhad ("the Company")  wishes to announce that Sri Damansara Sdn. Bhd. (“SDSB”), a wholly-owned subsidiary of the Company, has on 11 March 2021 been served with a Notice of Additional Assessment for the year of assessment 2018 with additional tax liabilities and penalties totalling RM6,688,422.19 by Lembaga Hasil Dalam Negeri (LHDN) due to differing tax interpretation relating to the compulsory acquisition of a parcel of land at its former Sri Damansara Club site.

SDSB disagrees with the additional assessment raised by LHDN and will appeal accordingly as provided under the law.

The Company will make further announcement if there is any material update on this matter.

This announcement is dated 11 March 2021.