The Board of Directors (“Board”) of Luster Industries Bhd (“Luster” or the “Company”) wishes to announce  that its 50.1%-owned subsidiary, Luster Ara Sdn Bhd (“LASB” or the “Purchaser”) had on 01 March 2022 entered into a Sale and Purchase Agreement (the “Agreement”) with Sime Darby Brunsfield Damansara Sdn Bhd  (“SDB” or the “Vendor”) and Sime Darby Property (Ara Damansara) Sdn Bhd ("SDP" or the Proprietor"), to acquire all that piece of freehold land held under Geran 323682, Lot 81117, Mukim Damansara, Daerah Petaling, Negeri Selangor with an area measuring approximately 9,544 sq metres (“the “Property” or the “Land”)) for a total cash consideration of RM35,000,000.00 (the “Consideration” or “Purchase Price) (“Acquisition”).

Please refer to the attachment for futher details.

This announcement  is dated 01 March 2022 .