The Board of Directors of Siab wishes to announce that its wholly-owned subsidiary, Siab (M) Sdn Bhd, had on 15 September 2022 entered into a sale and purchase agreement  to acquire one parcel of leasehold vacant industrial land held under individual title known as PM432 Lot 13833, Tempat Batu 34, Jalan Dengkil/Banting, Mukim Dengkil, Daerah Sepang, Negeri Selangor measuring in area of approximately 0.6287 hectares (equivalent to approximately 1.5536 acres) for a total cash consideration of RM4,331,053.00 (“Proposed Acquisition”).

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

This announcement is dated 15 September 2022.