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PROPOSED DISPOSAL OF MRCB’S ENTIRE 40% EQUITY INTEREST IN EKOVEST-MRCB JV SDN BHD AND EKOVEST-MRCB CONSTRUCTION SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM8.5 MILLION

MRCB wishes to announce that it has today entered into a Shares Sale  Agreement (“SSA”) with  Ekovest Berhad to dispose  its entire 40% equity interests in the following companies to Ekovest Berhad for a total cash consideration of RM8.5 million (“Proposed Disposal”):

(i)              40% equity interest in Ekovest-MRCB JV Sdn Bhd comprising 40,000 Ordinary Shares of RM1.00 each and  2,160,000 Redeemable Preference Shares (“RPS”) of RM0.01 each; and

(ii)             40% equity interest in Ekovest-MRCB Construction Sdn Bhd comprising 800,000 Ordinary Shares of RM1.00 each.

The detailed announcement is attached herewith.