1.         INTRODUCTION           

Pursuant to Chapter 10.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Protasco Berhad ("Company") wishes to announce that the following directors of the Company and its subsidiary(ies) have purchased the following properties developed by a subsidiary,  De Centrum Development Sdn Bhd., known as De Centrum Project, situated at Unipark Suria, Jalan Ikram-Uniten, 43000 Kajang, Selangor.  

2.         DETAILS OF RELATED PARTY TRANSACTIONS           

            The details of the related party transaction are disclosed as follows:           

Name of Related Party and Relation with Protasco Berhad		Details of Property	Value of Transaction (RM)
Dato’ Chong Ket Pen,  director of Protasco Berhad		5  De Centrum shop units	3,867,973
Chong Ther Nen, Director of De Centrum Development Sdn Bhd and son of Dato’ Chong Ket Pen		1 De Centrum shop unit	380,335
Chong Ther Shern, son of Dato’ Chong Ket Pen		1  De Centrum shop unit	380,335
Chong Ther Vern, son of Dato’ Chong Ket Pen		1  De Centrum shop unit	380,335
Dato’ Hasnur Rabiain Bin Ismail, Director of Protasco Berhad		6 De Centrum shop units	3,419,592
Dato’ Mohd Ibrahim Bin Mohd Noor, Director of Protasco Berhad		3  De Centrum shop units	2,256,456
Yap Oon Neo, Director of Protasco Trading Sdn Bhd		3 De Centrum  shop units	2,984,063
Tan Heng Kui, Director of Kumpulan Ikram (Sabah) Sdn Bhd		3  De Centrum shop units	2,023,898
Lim Yew Ting,  Director of Ikram Masterbuilder Sdn Bhd		2  De Centrum shop units	760,670
Sia Kee Seong, Director of De Centrum Development Sdn Bhd		2  De Centrum shop units	760,670

hereinafter individually referred to as “Transaction” or collectively referred to as “Transactions”.

3.         RATIONALE

De Centrum Development Sdn Bhd is principally involved in property development activities and the sale of property is in the ordinary course of business of De Centrum Development Sdn Bhd. Such Transactions have been carried out or will be carried out on an arm’s length basis and on commercial terms which is not more favourable to the related party than those generally available to the public and not prejudicial to the minority shareholders of the Company.

4.         Basis of arriving at the Consideration

The consideration for each of the Transactions was arrived at based on market price with 9% to 10% discount to those who purchased property units during the preview of De Centrum Project.

5.         FINANCIAL EFFECTS

The Transactions shall not have any effect on the share capital and substantial shareholdings, net assets, earnings and gearing of the Company.

6.         HIGHEST PERCENTAGE RATIO

The highest percentage ratio applicable to the Transaction pursuant to Paragraph 10.02(g) of the Main Market Listing Requirements is 1.3%.

7.         TOTAL AMOUNT TRANSACTED WITH THE SAME RELATED PARTY FOR THE PRECEDING 12 MONTHS

There is no transaction transacted with the same related parties for the preceding 12 months.  

8.         APPROVALS OF SHAREHOLDERS AND THE RELEVANT GOVERNMENT AUTHORITIES

The Transactions are not subject to the approval of the shareholders of the Company or any government authorities.

9.         DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

Save as disclosed herein, none of the directors and/or substantial shareholders of the Company and/or persons connected to them have any interest, direct or indirect, in the Transactions.

10.        STATEMENT BY DIRECTORS

The Board of Directors of the Company, having considered all aspects of the Transactions, is of the opinion that the Transactions are done on an arm’s length basis and in the best interest of the Company.