The Board of Directors of EGIB wishes to announce that SMTT, a wholly-owned subsidiary of the Company had on 18 November 2019, entered into a Sale and Purchase Agreement ("SPA") with The Penang Development Corporation (“PDC” or “Vendor”) for the acquisition all that piece of leasehold land situated in Seberang Perai Selatan and forming part of Mukim 13 the site whereof is marked Plot 329(d) Batu Kawan Industrial Park with an approximately area of 228,463.49 square feet (hereinafter called "the Property"), for a total cash consideration of Malaysian Ringgit Ten Million Two Hundred Eighty Thousand Eight Hundred Fifty Seven and Cent Five only (RM10,280,857.05) ("the Acquisition").

The details of the announcement is attached.