We wish to announce that pursuant to Chapter 9, Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Leisure Farm Corporation Sdn Bhd, a wholly-owned subsidiary of MIB, has on 16 February 2016, acquired 2 ordinary shares of RM1/- each, representing 100% of the total issued and paid-up share capital of JV Axis Sdn Bhd ("JVASB") for a total consideration of RM2/-.  As a result of the acquisition, JVASB has become an indirect wholly-owned subsidiary of MIB.

JVASB was incorporated on 20 January 2016 and its authorised and paid-up share capital are RM400,000/- and RM2/- respectively. JVASB is presently dormant and its intended principal activity is property development.

None of the directors or substantial shareholders of MIB or persons connected with them has any interest, direct or indirect in the aforesaid acquisition.

This announcement is dated 16 February 2016.