With reference to the earlier announcement dated 16 August 2022 on OKA Corporation Bhd (OKA)’s proposed acquisition of a piece of vacant land held under Title Geran Mukim 292 Lot 513, Mukim Senai, District of Kulai, Johor, the Board of Directors OKA would like to clarify the following:

a) The Vendor shall deliver vacant possession of the said Property on an “as-is-where-is” basis  to the Purchaser after Five (5) days  from the date the balance of the purchase price is paid to the Vendor’s Solicitors (hereinafter  referred to as “the Delivery Date”) together with the late interest payment (if any), failing which the Vendor shall pay to the Purchaser interest on the full Purchase Price at the rate of eight per centum (8%) per annum on a daily basis until such time when the Vendor shall have delivered  vacant possession or alternatively the Purchaser shall be entitled to affirm this Agreement and seek specific performance and/or damages,   .

The risk of the said Property shall continue to rest with the Vendor until the delivery of vacant possession thereof.

b) The consideration for the land is considered fair (RM37/sq ft) as we have compared the value to other similar land advertised for sale around the vicinity. The range is RM29/sq ft - RM38/sq ft.

Due to the many advertised land sales, which are enough to reflect the market value range within the vicinity, no land valuer is engaged to revalue the land.

c)  This proposed acquisition of land does not have effect on the following:

This announcement is dated 18 August 2022