We refer to a press article entitled "MULPHA TO PAY RM275M FOR BRISBANE HOTEL" appearing in Focus Malaysia, Market Talk Section, Page 6 (26 November - 2 December 2016), in particular the underlined paragraph as follows:-

“Mulpha International Bhd plans to acquire the Novotel Brisbane Hotel from Singapore’s CDL Hospitality Trusts.  The price tag is believed to be A$85 million (RM275.8 million).”

Mulpha wishes to clarify that it is currently in discussions but has not entered into any legally binding contract to acquire the Novotel Brisbane Hotel.  Mulpha continues to actively pursue hotel acquisitions in the Australian market.  Mulpha will ensure that an announcement is made in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, should any binding agreement be reached to acquire assets that are material to the Group.

This announcement is dated 28 November 2016.