(For consistency, the abbreviations and definitions used herein shall have the same meanings as defined in the announcement dated 26 October 2015, where applicable, unless stated otherwise)

We refer to the announcement dated 26 October 2015 in relation to the Joint Development Agreement (“JDA”) entered between YTB Impression Sdn Bhd (“YTBI”), a wholly-owned subsidiary of YTB with Admiral City Sdn Bhd (“Landowner 1”) and its subsidiaries, namely Oceancove Development Sdn Bhd (“Landowner 2”), Oceanfront Development Sdn Bhd (“Landowner 3”) and Strategic Property Sdn Bhd (“Landowner 4”) for the Proposed Melaka JV.

(Landowner 1, Landowner 2, Landowner 3 and Landowner 4 are hereinafter collectively referred to as the “Landowners” and individually, a “Landowner”)

The Board of Directors of YTB (“Board”) wishes to announce the followings:

1. YTBI had entered into a Supplemental Agreement dated 6 January 2023 with Landowners to amend the terms and conditions of the JDA (“Supplemental Agreement”); and
2. YTB Lifestyle Mall Sdn Bhd (“YTBLM”), a newly incorporated and wholly-owned subsidiary of YTB had entered into a Sale and Purchase Agreement dated 6 January 2023 with Landowner 1 for the Proposed Acquisition of Plot 1A Land for a cash consideration of RM41,691,068.00 (“Plot 1A SPA”).

(Collectively, the “Said Agreements”)

Please refer to the attachment for further details. 

This announcement is dated 6 January 2023.