Bursa
Announcements

The Board of Directors of JTB wishes to announce that Able Dairies Sdn. Bhd. [200701007073(765074-D)] (“ADSB” or “Purchaser”) of Lot 2259 & 2263, Jalan Helang, Off Jalan Kebun Baru, 9th Mile, Jalan Klang-Banting, Telok Panglima Garang, 42500 Kuala Langat, Selangor, a wholly-owned subsidiary of JTB, had received a Letter of Intent for sale of proposed piece of freehold land measuring a total of 29.0307 acres located at Jalan Akob, Kapar ("the said Land") from Golden Valley Industries Sdn. Bhd. [201901024288(1333617-H)] (“GVISB” or “Vendor”) of No. 2, Jalan Setia Dagang U13/AK, Seksyen U13, Setia Alam, 40170 Shah Alam, Selangor, at a purchase consideration of RM44,260,205.22 (Ringgit Malaysia: Forty Four Million Two Hundred Sixty Thousand Two Hundred Five and Cents Twenty Two Only).

An Earnest Deposit of 2% (Refundable) amounting to RM885,204.10 (Ringgit Malaysia: Eight Hundred Eighty Five Thousand and Cents Ten Only) is paid for the said Proposed Acquisition by ADSB on 12th February 2020. ADSB will enter into a Sale & Purchase Agreement, one month from the date of the Letter of Intent of GVISB upon the Terms and Conditions are confirmed.

Further development on the Proposed Acquisition will be announced in due course when Sale & Purchase Agreement is signed.

This announcement is dated 12 February 2020.