The Board of Directors of WCT (“Board”) wishes to announce that WCT Perkasa Sdn Bhd (formerly known as WCT Realty Sdn Bhd) (“WCTPSB” or “Developer”), an indirect 80% owned subsidiary of WCT, had on 13 October 2021 entered into a principal agreement (“Principal Agreement”) with Yayasan Sabah (“YS” or “Vendor”) for the acquisition of options to acquire development rights whereby the Developer is granted options by the Vendor to acquire the sole, exclusive and absolute development rights over each and every of the parcels comprising lands measuring approximately 411.394 acres in total area situated at Lok Kawi, District of Putatan, Sabah (“Options” and each an “Option”) (“Acquisition”).

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

This announcement is dated 13 October 2021.