Unless otherwise stated, defined terms used in this Announcement shall carry the same meanings as defined in the announcement dated 1 July 2025 on the Conditional Joint Venture.

Further to the announcement made by the Company on 1 July 2025 in relation to the Conditional Joint Venture (hereinafter referred to as “Transaction 2”), the Board of Directors of the Company wishes to provide additional clarity regarding the Group’s transactions with Aspen group of companies, as follows:

(i) the Company had on 26 May 2025, announced the proposed investment by Kerjaya Prospek Ventures Sdn. Bhd., a wholly-owned sub-subsidiary of KPGB, in 49% equity interest of Aspen Vision Land Sdn. Bhd. (“AVL”), a wholly-owned sub-subsidiary of Aspen via a subscription of new shares in AVL (hereinafter referred to as “Transaction 1”);

(ii) the highest percentage ratio applicable to Transaction 1 is 8.62%;

(iii) the highest percentage ratio applicable to Transaction 2, computed based on the total Land Price of RM117,000,000 and expenditures incurred for the Development Project amounting to (totalling RM124,029,907) is 10.91%, derived by comparing the total value of the consideration compared with the net assets of KPGB and the value of assets compared to net assets of KPGB based on the audited financial statements of KPGB for the financial year ended 31 December 2024;

(iv) the total percentage ratio, based on the aggregation of Transactions 1 and 2 pursuant to paragraph 10.02 of the Main Market Listing Requirements of Bursa Securities is 19.53%; 

(v) KPV’s actual financial commitment towards the Land amounts to RM74,417,944.20, representing its 60% share of the Land Price based on KPV’s equity interest in TBD, will be funded in cash via internally generated funds/and or bank borrowings, the breakdown of which has yet to be determined at this juncture. 

This announcement is dated 4 July 2025.