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                      The Company wishes to announce that its 70% subsidiary company, Country Annexe Sdn Bhd had on 5 July 2011 entered into the Privatisation Agreement with the Government of Malaysia and Syarikat Tanah dan Harta Sdn Bhd for the construction of the following:

i)      Little India Project – upgrading and beautification of Jalan Tun Sambanthan, Brickfields, Kuala Lumpur beginning from the intersection of Jalan Travers and Jalan Tun Sambanthan up to the entrance of the Brickfields Police Station (“Project 1”);

ii)     Pines Bazaar – a three-storey building consisting of office space, 28 units of stalls and 140 car park bays on Lot 172, Kuala Lumpur (“Project 2”); and

iii)    Ang Seng Development – the construction of 212 units of new government Class F quarters near Jalan Ang Seng to replace the government quarters at Jalan Rozario, Kuala Lumpur (“Project 3”),

the details of which are set out in the attached announcement.