The Board of Directors ("Board") of Parkwood Holdings Berhad (formerly known as Amalgamated Industrial Steel Berhad) ("Parkwood") wishes to announce that its wholly-owned subsidiary, Parkwood Developments Sdn Bhd ("Parkwood Developments") had on today entered into a Development Management Agreement ("DMA") with Triangle Asia Sdn Bhd ("Triangle Asia" or "the Developer") for the appointment of Parkwood Developments as the Development Manager of the Developer to provide property development and project management services in relation to its project.

Please refer to the attachement for details.

This Announcement is dated 6 April 2021.