1.0   Introduction

We are pleased to announce that Crest Builder Sdn Bhd, a wholly owned subsidiary of Crest Builder Holdings Berhad ("Crest Builder" or the "Company") has been awarded a contract by Sunway Velocity Three Sdn Bhd (formerly known as Tanda Warisan Sdn Bhd) for the Proposed Commercial Development (Plot A) consisting of 1 level basement, 8 levels car park, 2 levels of mezzanine and 2 blocks of 52 storey service apartments on part of Lot 20076, Seksyen 90, Jalan Shahbandar, Kuala Lumpur for a contract sum of RM 448.50million (the "Contract")

2.0   Duration of The Contract

The contract period set out in the letter of acceptance is forty-three months (43) from 15 March 2024 to 14 October 2027.

3.0   Share Capital and Substantial Shareholder's Shareholdings

The Contract will not have any effect on the issued and paid-up share capital of Crest Builder and on the substantial shareholder's shareholdings of Crest Builder.

4.0   Earnings and Net Tangible Assets ("NTA")

The Contract is expected to contribute positively to the earnings of the Group for the financial years ending 31 December 2024 and onwards.

5.0   Director's and Substantial Shareholder's Interest

As far as the Directors of the Company are aware, none of the Directors and/or substantial shareholders of Crest Builder and/or any persons connected to the Directors and substantial shareholders of Crest Builder have any interest, direct or indirect in the Contract.

6.0   Statement by The Directors

The Directors of the Company are of the opinion that the acceptance of the Contract is in the best interest of the Company.

This announcement is dated 5 March 2024.