We refer to our announcement dated 30 October 2020 in relation to the Memorandum of Understanding with BDB Land Sdn Bhd ("BLSB"), a wholly-owned subsidiary of Bina Darulaman Berhad, which is a public listed company on a joint venture for affordable housing development.

The Board of Directors of LPB wishes to announce that on 6 April 2021, LPB Development Sdn Bhd (“LDSB”), a wholly-owned subsidiary of the Company had entered into a Joint Venture cum Shareholders Agreement (“JVSA”) with BLSB to incorporate a joint venture company namely, BDB Lagenda Sdn Bhd (“BDBLSB”) and for BDBLSB to undertake an affordable housing development project on 5 parcels of lands all located at Bandar Amanjaya, Daerah Kuala Muda, Negeri Kedah with a total gross area measuring approximately 229.99 acres (“Proposed Joint Venture’).

Please refer to the attachment for further details of the Proposed Joint Venture.

This announcement is dated 6 April 2021.