The Board of Directors of TWL (“Board”) wishes to announce the following:-

(i)         Tinta Kaca Development Sdn Bhd (“Tinta Kaca”), an 80%-subsidiary of TWL Commodity Sdn Bhd (“TWL Commodity”) which in turn is a wholly-owned subsidiary of the Company, has entered into a novation cum supplemental sale and purchase agreement dated 4 August 2022 with INTA Development Sdn Bhd (“INTA”) and Sime Darby Property (Bukit Raja) Sdn Bhd (“SDP Bukit Raja”) to acquire a piece of vacant freehold land measuring 22,234 square metres (“sqm”) held under Geran 318160, Lot 77716, Mukim Damansara, Daerah Petaling, Negeri Selangor Darul Ehsan (“EN10 Land”) for a cash consideration of RM10.00 million (“EN10 Purchase Consideration”) (“EN10 Acquisition”) (“EN10 Novation Agreement”);

(ii)         Tinta Heights Development Sdn Bhd (“Tinta Heights”), an 80%-subsidiary of TWL Commodity which in turn is a wholly-owned subsidiary of the Company, has entered into a novation cum supplemental sale and purchase agreement dated 4 August 2022  with INTA and SDP Bukit Raja to acquire a parcel of freehold land measuring 23,237 sqm held under Geran 120326, Lot 66668, Mukim Damansara, Daerah Petaling, Negeri Selangor Darul Ehsan (“EN11 Land”) for a cash consideration of RM12.00 million (“EN11 Purchase Consideration”) (“EN11 Acquisition”) (“EN11 Novation Agreement”); and

(iii)        Alma Land Development Sdn Bhd (“Alma Land”), a 70%-subsidiary of TWL Commodity which in turn is a wholly-owned subsidiary of the Company, has entered into a novation cum supplemental sale and purchase agreement dated 4 August 2022  with INTA and SDP Bukit Raja to acquire a parcel of freehold land measuring 35,440 sqm held under H.S.(D) 315441, PT No. 35811, Mukim Damansara, Daerah Petaling, Negeri Selangor Darul Ehsan (“HT4 Land”) for a cash consideration of RM23.00 million (“HT4 Purchase Consideration”) (“HT4 Acquisition”) (“HT4 Novation Agreement”).

Please refer to the attachment for further details.

This announcement is dated 4 August 2022.